Japan Light Metal Rolled Products Price to Increase

Light metal rolled products market price is flat around Tokyo hen the aluminium ingot price is same for April as January-March. The price is expected to increase when the ingot price would increase by 10-20 yen per kilogram and the rerollers would increase the rolling charge. However, the dealers could have trouble to pass the higher cost on the market under slow building market. Offshore aluminium market increased by 30% at cash price at London Metal Exchange from the beginning of the year. The Japanese is 330 yen per kg as January-March when the LME settlement keeps high level of US$ 3,000 per tonne. With the offshore market, Japanese price could increase by 10 yen per kg in and after July. Sumitomo Light Metal Industries increases the rolling margin by 10-20% for April shipment to cover higher cost for materials and energy. They are suffered from higher cost for subsidiary materials including magnesium.