Japanese buyers say demand has slowed, and aluminum premiums are expected to decline in the third quarter
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- Time of issue:2010-12-08
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(Summary description)Tokyo, May 17 news, Japanese aluminum buyers said on Tuesday that due to the slowdown in Japanese domestic demand and the weakening of American aluminum premiums, it is estimated that aluminum premiums in the July-September season of this year will decline, but the possibility of a sharp decline is unlikely. Because of the decline in China’s aluminum exports.
Japanese buyers say demand has slowed, and aluminum premiums are expected to decline in the third quarter
(Summary description)Tokyo, May 17 news, Japanese aluminum buyers said on Tuesday that due to the slowdown in Japanese domestic demand and the weakening of American aluminum premiums, it is estimated that aluminum premiums in the July-September season of this year will decline, but the possibility of a sharp decline is unlikely. Because of the decline in China’s aluminum exports.
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2010-12-08
- Views:0
Tokyo, May 17 news, Japanese aluminum buyers said on Tuesday that due to the slowdown in Japanese domestic demand and the weakening of American aluminum premiums, it is estimated that aluminum premiums in the July-September season of this year will decline, but the possibility of a sharp decline is unlikely. Because of the decline in China’s aluminum exports.
Japanese buyers will require overseas aluminum suppliers to lower the premium of high-quality Western aluminum delivered to Japan in the third quarter of this year by 5-10 US dollars/ton from the level in the second quarter of this year.
The quarterly aluminum premium negotiations between Japanese aluminum buyers and overseas suppliers will begin next week. A Japanese aluminum industry source said, "Japan's aluminum premium should be reduced, because the US aluminum premium has dropped by more than 10%, our company has reduced the requirement for suppliers to reduce the aluminum premium by 10 US dollars per ton. "The high aluminum premium in the United States was one of the key factors that prevented Japan's aluminum premium from being significantly reduced in the second quarter, despite the abundant supply of Chinese aluminum in the Japanese market at that time. The US Midwest aluminum premium has fallen from 7.5 cents/lb in early April to 6.5-6.6 cents/lb. In the second quarter, overseas aluminum suppliers shipped aluminum ingots to Japan at a premium of US$79-80/ton over the current price of LME. In the first quarter, the aluminum ingots that arrived in Japan were at a premium of US$86-87/ton compared to the current price of LME. If Japan's aluminum premiums really fall in the third quarter, it will be the third consecutive quarter of decline in Japan's aluminum premiums. In the fourth quarter of 2004, Japan's aluminum premiums were as high as US$90-91.
Japan is Asia’s largest net importer of aluminum, consuming an average of 2.4-2.5 million tons of aluminum per year. Japanese aluminum premiums are usually regarded as the benchmark for regional aluminum premiums. Japanese buyers said that the current sluggish domestic demand and high inventories are the reasons they require suppliers to lower their aluminum premiums. The latest data show that Japan's aluminum rolled products shipments in March fell by 2.5% year-on-year to 208,203 tons, the third consecutive month of decline.
The Japan Aluminum Association stated that the decline in shipments of aluminum rolled products was caused by the sluggish demand in the domestic can manufacturing and construction industries. Japan’s Marubeni Trading Company said that as of April 30, it is estimated that the aluminum stocks in the Japanese ports of Yokohama, Nagoya and Osaka were 300,400 tons. Some traders said that it is estimated that Japan's aluminum premium in the third quarter will not be less than US$70, due to the decline in China's aluminum exports and the drop in international aluminum prices.
China’s total exports of primary aluminum in the first quarter were 336,977 tons, a year-on-year increase of 35.1%, as Chinese aluminum smelters took advantage of the international aluminum price surge to increase exports.
In the first quarter of this year, Japan’s aluminum imports from China increased by 61% year-on-year to 74,332 tons, accounting for 13% of Japan’s total aluminum imports during the same period
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