According to a Platts report, the second-quarter aluminium contract premium has settled at $128 per tonne plus London Metal Exchange cash CIF Japan between a Japanese buyer and an aluminium producer, up 35% from $95 per tonne plus LME cash CIF Japan in Q1. The producers first offered $135 per tonne plus LME cash CIF Japan, which settled down at $128 per tonne after negotiation.
The deal that was agreed upon was for the supply of over 500 ton of P1020A aluminium ingot per month for the period from April to June 2017.
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According to Platts’ buyer sources, a second producer has also agreed to a premium at $128 per ton plus LME cash CIF Japan, but there have been no official confirmation from the producer.
Five major aluminium producers and 10 to 15 Japanese buyers have been in negotiations since late February for settling Q2 Japanese aluminium premium contracts.
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