Aluminum buyers in Japan plans on to pay record premium for the next quarter

 

TOKYO (Scrap Monster): The surcharge for three months, which will begin in the month of January, is informed to be 425 dollars above the London Exchange Cash Price. The informants refused to be identified as the news was considered to be confidential. The fee of the present quarter is 420 dollars.

 

The premiums which are forwarded to Japan increased by about 71 percent, along with that Rusal; and Alcoa, has been cutting down the output from their smelter in order to generate the short comings of aluminum production. By the next coming year, the demand for aluminum will increase by about 387,000 tonnes, and by the year after that, the aluminum demand would overcome the production by 872,000 tonnes. These forecasts were made by the trading company, Marubeni Corp, in a report which was published last week.

 

The aluminum based companies in Japan, has increased their purchase of aluminum, under the supply contracts with the aluminum producers this year, with the hope that, the economic policy of the Prime MinisterShinzo Abe will rejuvenate the economy of the nation.  The primary import of aluminum in the nation, hiked up 15 percent to 1.7 million tonnes with in the period of 10 months in the year 2014, according to the data, which were collected from the Japan Aluminum Association.