With LME Asia Week now in full swing, Fastmarkets MB takes an in-depth look at one of the topics likely to dominate discussions at this year's event: How will aluminium premiums in Japan and South Korea likely fare for the rest of the year?
The main Japan ports (MJP) aluminium premium typically rises during the peak demand season seen during the second quarter of each year, Fastmarkets MB data indicates. In the second quarter of last year, the Japan P1020 premium touched a nearly three-year high at $180-190 per tonne in mid-April 2018. The premium averaged $127.69-147.31 per tonne during the second quarter 2018, up by 25% from an average $103.67-116.33 per tonne in the first quarter 2018.The spot MJP aluminium premium stood at $90-105 per tonne on Friday May 3, up by 21.9% from $75-85 per tonne at the start of the year. In South Korea, aluminium premiums typically track the MJP premium, although the premium assessment range usually stand roughly $10-20 per tonne higher than the MJP premium.The fca duty-free South Korea premium averaged $124.23-135.77 per tonne during the...