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PrintJapanese aluminum buyers started the negotiation with offshore suppliers to set primary aluminum ingot premium for April-June. The negotiation is expected to be tough when the suppliers seek January-March level of premium while the buyers seek lower level under slow demand. The settlement is expected to take time for the talk.
The premium kept decreasing due to slowing demand after financial crisis. The premium was around US$ 60 per tonne for January-March. However, the suppliers apparently offered the level of premium for April-June citing relative firm demand in China. However, Japanese buyers seek lower level when they have overstock under slow demand.
World aluminum inventory reached record 3.25 million tonnes at warehouses registered to London Metal Exchange. The suppliers reduce the production but the supply balance shows no sign to improve.
LME aluminum ingot price keeps low at less than US$ 1,400 per tonne level while the price hit US$ 3,000 in last summer. Under the situation, the market price and premium are expected not to recover in short term. –Japan Metal Bulletin
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