Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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May 2019 | Aluminium Weekly Market Tracker


Primary and Secondary Fundamental Analysis


Analysis of consumption and production of primary aluminium, and an analysis of the market drivers of secondary aluminium and aluminium.

Demand Analysis

Nearby LME backwardation pushes European aluminium premiums down
Aluminium premiums in Europe were pressured by a nearby backwardation on the LME in the week ended May 3, while premiums in Japan and the United States were flat and those in Brazil were mixed.

Aluminium premiums in Europe edged lower on the week, with nearby LME spreads in a sustained backwardation and demand from consumers muted. Fastmarkets assessed the benchmark Rotterdam P1020 in-warehouse duty-unpaid premium at $80-90 per tonne May 3, down from $85-95 per tonne a week ago. Premiums had been largely supported by trader-to-trader demand amid a contango on LME spreads earlier in April. But that demand and the nearby contango have disappeared - the cash/May LME spread is now in a $10 backwardation. The Rotterdam duty-paid premium fell to $135-145 per tonne last week from $140-150 per tonne a week earlier.

In the US, the P1020A...

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