Rusal on Friday “said it had offered January-March shipments of the metal to Japanese buyers at a premium of $270 per tonne, seeking a record high,” reports Reuters.
“‘The reason why we are seeking an increase for the first quarter is because we expect tight supply in Asia and healthy demand in Southeast Asia, Japan, and Taiwan,’ Geoff Watson, director for Asian sales at Rusal marketing, told Reuters in a telephone interview.”
The day’s biggest mover was the cash price of primary Indian aluminum which dropped by 0.7 percent on Friday, November 22 to close. On the LME, the aluminum 3-month price declined 0.6 percent to $1,776 per metric ton. On the LME, the cash price of primary aluminum fell 0.5 percent to $1,730 per metric ton.
Chinese aluminum closed mixed last Friday. The price of Chinese aluminum billet fell 0.3 percent. The Chinese aluminum cash price saw little movement. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row. The price of Chinese aluminum bar held steady.