Key data from July 9 pricing session.
P1020A ingot delivered São Paulo region ($ per tonne)
Key drivers – Spot market activity remains extremely weak, according to sources – Most primary metal buyers report no need for purchases in the short term, as demand from key end-user sectors shows no sign of recovery – Uncertainties over the political and economic scenario in Brazil pose further hindrance to activity in the spot market – Most sources interviewed believe that market could fall further in the coming weeks, with the lower end of the premium range seen at about $400 per tonne Key quotes “Many don’t have money, but people that do have money and could buy primary metal are not doing so because of all the uncertainties in Brazil and the possibility of a further decrease in premiums.” Consumer “The market is very quiet, we see no real buying movement. Many aluminium extrusions are operating way below their design capacity and I see no change in this scenario at least until 2017, given Brazil’s economic situation.” Trader
Trade log July 8 25 tonnes of ingot delivered São Paulo region, at $420 per tonne 12 tonnes of ingot, delivery not included, at $470 per tonne
For previous 2015 aluminium trade logs, please click on the relevant month:
January February March April May June
Click here for Metal Bulletin’s P1020A ingot delivered São Paulo region premiums specifications
Click here for Metal Bulletin’s P1020A ingot sold on a cif Brazilian ports basis* premiums specifications
*Conducted by-weekly, next assessment to be published on July 16.
Danielle Assalve email@example.com Twitter: dassalve_mb