Benchmark: LME cash aluminium, in-warehouse. The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Price | vs benchmark | Market note |
|---|---|---|---|---|
🌐 LME warehouses Global · terminal market | In-warehouse | 3,085.00 | Benchmark | The global reference; regional premiums stack on top |
🇺🇸 US Midwest (delivered) USA · Section-232 bound | MW duty-paid premium | 3,645.00 | +560.00 (+18.2%)narrowing | MW premium — 232 tariff plus freight; the widest regional premium |
🇪🇺 Rotterdam duty-paid Europe · European benchmark | In-warehouse premium | 3,370.00 | +285.00 (+9.2%)narrowing | Duty-paid P1020 premium into the EU |
🇯🇵 Japan (MJP) Japan · Asian benchmark | Main Japanese Port | 3,230.00 | +145.00 (+4.7%)narrowing | Quarterly-negotiated MJP premium — the Asian gauge |
🇸🇦 Gulf smelters (FOB) Middle East · low-cost power | FOB smelter | 3,015.00 | -70.00 (-2.3%)narrowing | EGA/Alba FOB — cheap gas-fired power under LME cash |
🇷🇺 Russia (Rusal) Russia · buyer-avoided | FOB, LME-deliverable | 2,965.00 | -120.00 (-3.9%)stable | Deliverable but many buyers refuse — a self-imposed discount |
🇨🇳 China (SHFE arb) China · export-tax bound | SHFE vs LME | 3,045.00 | -40.00 (-1.3%)stable | Net position swings with the SHFE-LME arb and export rebates |
Differentials are indicative desk assessments over the live benchmark — 90-day spread trend shown per origin.
Track physical flows on the live vessel map →Indicative term structure · Backwardation
Converted from 3,085.00 USD/t · indicative FX
Aluminum is traded in the base metals segment, with price discovery referenced against LME. The chart above shows the trailing indicative price path. Physical parcels of Aluminum can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Energy-cost pressure in several regions raised questions over marginal smelter viability, lending support to the light metal.