首页|Asian aluminium premiums mostly flat; Supply tightness in Japan
Asian aluminium premiums mostly flat; Supply tightness in Japan
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NSTL
Asian physical aluminium premiums over the London Metal Exchange cash price were mostly flat, with supply tightness of Good Western metal in Japan failing to boost premiums. Uncertainties about economic conditions in Japan, indeed in the world, have reduced Japan's appetite for aluminium. Consumers have limited their purchases to avoid building high inventories, while trading companies have reduced imports to avoid funding unsold metal for long periods. Although Japan's spot premiums of Good Western brands have been stuck in a range of 55 dollars-60 dollars a metric ton, CIF to main Japanese ports, over the past few weeks, they are still much higher than the third-quarter benchmark premiums of 45 dollars-48 dollars/ton, CIF.At the beginning of the third quarter, spot premiums in Japan were on a par with quarterly levels. The rise in premiums stems more from limited supply than higher demand, a Japanese trader said. "Spot premiums in the fourth quarter will stay much uglier than the quarterly premiums" if consumers continue to refrain from building inventories, he added.
NSTL
