Seller-buyer gap widens in Japan aluminium import market; July stocks rise 3% MoM

<p>With the LME nearby spreads in backwardation during trading hours in London on Monday, August 14, the seller-buyer gap in Japan&rsquo;s aluminium import market widened yesterday, reported market sources.</p> <p>August 15 was the deadline for declaring the shipping September cargoes and there were few buyers who were seeking spot supplies. Two international traders said they had information about a seller making offers at US$70-$75 per tonne CIF Japan. The seller could be a trading house with aluminium stocks.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/japanimport.jpg" alt="News" width="517" height="316" /></p> <p>Cash-August spread was US$4 per tonne in backwardation during Asian trading hours Tuesday, compared to flat Monday. Cash-September was US$15 per tonne in backwardation Tuesday, widening from a US$4 per tonne backwardation Monday, reported <em>Hellenic Shipping News.</em> &nbsp;</p> <p>Meanwhile, a producer said his indicative offers were US$90-$100 per tonne CIF Japan for September cargo. Other producers reported Monday deals into Oman at around $100 per tonne CIF.</p> <p>Spot Japanese import premium was recorded at US$75-$76 per tonne plus LME cash, CIF Japan, on Tuesday, August 15, S&amp;P Global Platts assessed.</p> <p><a title="AlCircle Report" href="http://www.alcircle.com/exclusivereport/?m=exclusivereport" target="_blank"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/buynow.gif" alt="News" width="480" height="84" /></a></p> <p>According to another update by trading house Marubeni Corp, aluminium stocks at three major Japanese ports- Yokohama, Nagoya, and Osaka, rose to 268,000 tonnes by July end, up three per cent from the previous month.</p>