Japanese buyers are concluding negotiation with offshore suppliers to increase Japan premium for primary aluminium ingot for July-September shipment. The premium would increase after drop under worldwide recession. They keep talking at around more than US$ 70 per tonne of level. However, the buyers are still resisting the hike when the domestic demand recovers only slightly.
The premium decreased to less than US$ 60 per tonne for April-June due to very slow demand while the premium hit near US$ 90 last year. The world demand recovers gradually partly due to stimulus package in many countries. However, Japanese aluminium demand is still very low price despite of the slight recovery. The construction demand is very slow while the can materials demand is firm. The rolled aluminium production decreased by around 30% in April from a year earlier, according to Japan Aluminium Association. Japanese rolled aluminium makers try to reduce the ingot inventory while they reduced the new ingot purchase. They would increase the ingot purchase but they try to avoid wide hike for the premium. The ingot suppliers try to improve the premium level citing firm demand from Asian buyers.M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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