Japan's Showa Denko to raise high-purity aluminium foil prices

Japan's aluminium rolling mill Showa Denko plans to raise prices of aluminium foil rolled from 99.9-99.99% purity metal for shipments starting October 1, the company said on Wednesday. The foil prices will be raised by around 7-15%, on the back of high prices of 99.9-99.99% aluminium, which command higher premiums than Good Western 99.7% purity metals, Showa Denko said. The company added that it had to raise prices also due to higher fuel price costs. Good Western aluminium has traded at $65-66/mt plus London Metal Exchange cash CIF Japan basis for shipments after October. Premiums for 99.9-99.99% metal are above $70/mt plus LME prices, one trade source told Platts. Japan imports such metals mainly from the Middle East on a contract basis and from China on a spot basis, the source said.