LME aluminum price & MJP quotes (2024.4.25)

According to the latest data, the aluminum price on the London Metal Exchange (LME) is $2579.00 per ton. This is the closing price for the 3-month period (one day delayed). In addition, the price of aluminum has increased by approximately $198/ton, or 8.31%, since the beginning of 2024. Aluminum prices, affected by the threat of Western sanctions against the Russian metal, continue to trade at $2,600 a ton.

When we discuss international aluminum prices, in addition to the LME, we will also discuss the MJP (Main Japanese Ports) market. According to the latest data, the market price composition of the international aluminum price MJP is as follows:

First Japanese Aluminum Metal Premium Contract for Q2 2024: This contract is for shipments of 1,000 tons or more per month, shipped between April and June, at a price of $145/ton, plus the LME for that month (LME) average cash settlement price, CIF Japan.

MJP assessment for the first quarter of 2024: The price of this assessment is US$90/ton, so the price in the second quarter has increased by about 60% from the first quarter. This is higher than any QMJP (Quarterly MJP) settlement in 2023.

Overall, aluminum prices were supported by rising premiums in South Korea, China and the rest of Asia. The market has mixed views on supply and demand fundamentals, but more deals are expected to be reported over the next two weeks.