This new alloy trade is dominated by Malaysia, which has emerged as a processor of lower-grade scrap now banned by the Chinese authorities. A similar phenomenon is taking place in the copper scrap sector.(Aluminium stocks at Port Klang - File pic)
LONDON: Japanese aluminium buyers have agreed to pay the highest premium in six years to get their metal in the second quarter.
The Japanese premium [PREM-ALU-JP>, which serves as a benchmark for the wider Asian market, has risen for three straight quarters to $148-149 per tonne over London Metal Exchange (LME) cash prices.
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