Warrant traders were reporting an easing of South Korean aluminium warrants after a pocket of short supply in the region began to ease in the week ended Friday April 12, while a significant reduction in the length of queues at Malaysian warehouses operated by Istim also made trading easier.
Fastmarkets' most recent assessment for in-warehouse P1020 aluminium warrants in East Asia fell this week to $10-25 per tonne, down by 11% week-on-week based on the midpoint of the range.Last month, stock levels in London Metal Exchange-registered South Korean warehouses in Busan and Gwangyang fell by 23.3%, causing aluminium premiums on a duty-free fca basis to jump to their highest level since May 2018 at $120-140 per tonne, while offers for East Asian aluminium warrants were heard as...