U.S. Gulf:
Recent firming at Brazil lifted price ideas in the Gulf to at least $135-$140/mt CFR, sources said, an increase from $130-$135/mt CFR published previously.
Gulf Coast:
Annual Gulf Coast contracts were noted in the $85-$110/st DEL range for 2021.
Midwest:
Tons delivered to the Midwest were quoted even with the Gulf Coast at $85-$110/st DEL.
West Coast:
The West Coast market was noted at $100-$130/st DEL for 2021 agreements.
Brazil:
Recent business at Brazil was reported in the $150s/mt CFR, increasing from $135-$140/mt CFR in the previous report.
China:
Operating rates at primary lead smelters in Henan, Hunan, and Yunnan provinces firmed to 58.9 percent for the week ending April 9, Shanghai Metals Market reported. Smelters were noted operating at 58.3 percent for the prior week.
Secondary smelters in Jiangsu, Anhui, Henan, and Guizhou were also higher, climbing 1.88 percentage points to 55.27 percent, due to a mix of production ramp-ups and concluded maintenance.
Aluminum capacity at China is expected to reach an all-time peak “soon,” according to the China Nonferrous Metals Industry Association (CNIA) and reported by Reuters, as government efforts to meet climate pledges and limit runaway capacity expansion are expected to fully mature by 2025.
Aluminum smelting capacity at China was pegged at 8.34 million mt at the end of 2020.