Japan Quarterly Primary Aluminium Price Continues to Surge for Apr-Jun

Japanese primary aluminium ingot price, the quarterly indicator for rolled aluminium products’ prices, will increase by 10 yen to 250 yen per kilogram for April-June compared with January-March. The indicator reflected overseas primary aluminium market price upsurge for December-February. The indicator may continue to surge for July-September if overseas market price maintains current high level and yen exchange trend keeps strong.

The indicator surges for 2 quarters in a row. Primary aluminium price at London Metal Exchange (LME) maintained strong for December-February and the settlement hit the yearly highest in February. LME settlement keeps above US$ 2,500 per tonne in March with speculative money inflow from funds in the U.S.A. and other advanced countries. The price hit US$ 2,588 on March 4th, the highest since September 2008.

Japanese domestic ingot price for July-September will be determined by LME primary aluminium price and yen exchange trend for March-May. The domestic indicator may surge by about 10 yen if LME aluminium price keeps above US$ 2,500. The indicator could jump up more as LME market trend.