19 MARCH 2013Platts
Japan Q2 aluminum premium first settlements at $248/mt
Edited by : AL CIRCLE
1 min read
Two Japanese buyers of aluminum and three global producers have agreed to set Japan's import premium at $248/mt plus London Metal Exchange cash, CIF basis, for second quarter shipments to the country, buyer sources said Monday.
The Q1 contract premiums were at $240-245/mt plus LME cash, CIF Japan.
The settlements were for over 500 mt/month shipments of aluminum ingot to Japan from overseas smelters, over April-June, the buyers said.
The three producers contacted by Platts declined to comment.
Negotiations for Q2 premiums are still ongoing as over 10 Japanese buyers have not reached settlements with any of the producers yet.
One Japanese buyer said he had submitted bids to several producers in the range of $245-247/mt plus LME cash, CIF Japan.
One of the global producers is currently offering $249/mt plus LME cash, CIF Japan, while another producer is offering at $253/mt plus LME cash, CIF Japan, sources said.
Producers' first offers for Q2 premiums were at $250-255/mt plus LME cash, CIF Japan.
The Q1 contract premiums were at $240-245/mt plus LME cash, CIF Japan.
The settlements were for over 500 mt/month shipments of aluminum ingot to Japan from overseas smelters, over April-June, the buyers said.
The three producers contacted by Platts declined to comment.
Negotiations for Q2 premiums are still ongoing as over 10 Japanese buyers have not reached settlements with any of the producers yet.
One Japanese buyer said he had submitted bids to several producers in the range of $245-247/mt plus LME cash, CIF Japan.
One of the global producers is currently offering $249/mt plus LME cash, CIF Japan, while another producer is offering at $253/mt plus LME cash, CIF Japan, sources said.
Producers' first offers for Q2 premiums were at $250-255/mt plus LME cash, CIF Japan.
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