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 | Market note |
|---|---|---|
🌐 LME warehouses Global · terminal market | In-warehouseBenchmark | The global reference; regional premiums stack on top |
🇺🇸 US Midwest (delivered) USA · Section-232 bound | MW duty-paid premium | MW premium — 232 tariff plus freight; the widest regional premium |
🇪🇺 Rotterdam duty-paid Europe · European benchmark | In-warehouse premium | Duty-paid P1020 premium into the EU |
🇯🇵 Japan (MJP) Japan · Asian benchmark | Main Japanese Port | Quarterly-negotiated MJP premium — the Asian gauge |
🇸🇦 Gulf smelters (FOB) Middle East · low-cost power | FOB smelter | EGA/Alba FOB — cheap gas-fired power under LME cash |
🇷🇺 Russia (Rusal) Russia · buyer-avoided | FOB, LME-deliverable | Deliverable but many buyers refuse — a self-imposed discount |
🇨🇳 China (SHFE arb) China · export-tax bound | SHFE vs LME | Net position swings with the SHFE-LME arb and export rebates |
Origin notes are qualitative context. Dollar differentials are not shown, because no public differential series is attached.
Track physical flows on the live vessel map →Converted from 3,283.00 USD/t · indicative FX
Aluminum is traded in the base metals segment. The series on this page is the named public source, not a live feed. 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.