What is main Japanese port premium?
The quarterly Main Japanese Port (MJP) aluminium premium benchmark is negotiated each quarter between Japanese buyers (consumers and traders) and major overseas producers. The main Japanese consumers include UACJ, Lixil, , Nippon Light Metal, Showa Denko, Kobelco and Sumitomo Chemicals.
What is MJP premium?
(PLATTS) FUTURES (MJP) The Contract. Our Aluminum Japan Premium (Platts) Futures (MJP) contract is a new, cash-settled futures contract that enables participants to mitigate regional Asian Aluminum premium price risk exposure.
What is premium aluminium?
LME Aluminium Premiums are a suite of regional contracts designed to help the global aluminium community: The new contracts cover the four key regions of aluminium demand: US Midwest, West-Europe, East-Asia and South-East Asia.
What is meant by MJP?
MJP. Mahatma Jyotiba Phule Rohilkhand University (India)
What is MJP price?
Fastmarkets’ premium for the supply of aluminium to main Japanese ports (MJP) in the first quarter of 2021 has settled at $130 per tonne, its highest since the third quarter of 2018.
What are aluminum premiums?
Why is aluminium getting expensive?
Aluminium prices surged to a 13-year high of $3,000 a tonne as sharp fluctuations in economic activity during the pandemic have amplified the impact of supply glitches and rising demand. Policy action by China has also inflated the price of aluminium, the second most used metal in the world after steel.
Is the price of aluminum up?
Based on the World Bank data, the average aluminum price grew from $2004 per tonne in January 2021 to $2934 per tonne in October 2021, a 62% increase from the previous October ($1806 per tonne).
What is MWP aluminum?
The Midwest Premium is a term for the price of aluminum supplied to the Midwest United States. Platts (like its competitors) provides independent assessments of where this price falls each day between buyers and sellers in this regional market.
What is the quarterly Japanese aluminum import premium?
What is the Quarterly Japanese Aluminum Import Premium? Platts Japanese aluminum import premiums reflect the premiums charged over the London Metal Exchange cash contracts for standard ingot imported into Japan. The quarterly premiums are negotiated between Japanese buyers and overseas suppliers before the start of every quarter.
What does MJP mean for aluminium supply to Japan in 2021?
Fastmarkets’ premium for the supply of aluminium to main Japanese ports (MJP) in the first quarter of 2021 has settled at $130 per tonne, its highest since the third quarter of 2018. The latest aluminium P1020A (MJP) quarterly premium, cif Japan is on top of the London Metal Exchange cash price and for January-March delivery.
What does the latest aluminium premium tell us about the market?
The latest aluminium P1020A (MJP) quarterly premium, cif Japan is on top of the London Metal Exchange cash price and for January-March delivery. The premium is up 47.7% from $88 per tonne in the fourth quarter of 2020. The premium is also 56% higher than the first-quarter benchmark for 2020, which settled at $83 per tonne.
What is the cost of shipping aluminium to Japan in 2020?
TOKYO, Dec 27 (Reuters) – Premiums for aluminium shipments to Japan for the first quarter of 2020 were set at $83 per tonne, down 14% from the previous quarter amid soft demand from electronics and auto companies, two sources directly involved in the pricing talks said. The sources declined to be named due to the sensitivity of the talks.