06 JUNE 2017www.hellenicshippingnews.com
First Q3 Japan aluminium premium settlement reported at US$119/t plus LME CIF
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<p>A producer and a Japanese buyer agreed to set the third-quarter premium for aluminium imports into Japan at $119 per tonne plus LME cash CIF Japan, down from $128 per tonne for Q2, several parties involved in the talks said Monday.</p>
<p>The agreement was for P1020/P1020A aluminium ingot for shipping to Japan over July to September, for over 500 tonnes per month.</p>
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<p>Around 15 Japanese buyers and five producers are continuing the negotiations, sources said.</p>
<p>Rusal offered at $128 per tonne plus LME cash CIF Japan, Rio Tinto Japan at $123 per tonne, a third producer at $125 per tonne, and a fourth producer at $120 per tonne. One Japanese buyer said $119 per tonne plus LME cash CIF Japan was too high.</p>
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<p>Producers said output cuts in China are affecting the market but it was too early to say, he said. The buyers put their Q3 premium ideas in the range of $110-$120 per tonne CIF Japan.</p>
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