Platts
The spot premium for primary aluminum ingot in Japan jumps 17% to $170-180/mt plus LME cash
Edited by : AL CIRCLE
1 min read
The spot premium for primary aluminum ingot, on a CIF Japan basis, was assessed 17% higher at $170-180/mt plus London Metal Exchange cash Monday, from $150/mt last week, following a 500 mt deal by a smelter in the Asia Pacific region, according to Platts data.
The producer concluded the deal with a Japanese buyer, likely a trading house, at $180/mt plus LME cash CIF Japan for 500 mt of standard ingot, said two sources familiar with the deal. The cargo will be loaded in May and is expected to reach Japan over June-July.
Separately, another producer said his indication for spot premiums was at $160-180/mt plus LME cash, CIF Japan basis, but added that he has not made any firm offers.
Spot supply remains thin as producers have committed second quarter shipments to term buyers. Buyers in Southeast Asia are looking to buy LME warehouse stocks in Singapore and Malaysia instead, Japanese traders said.
One Japanese consumer last week said his supplier had suggested a premium of $230/mt plus LME cash, CIF Japan, if the supplier sourced the metal from LME warehouses.
The producer concluded the deal with a Japanese buyer, likely a trading house, at $180/mt plus LME cash CIF Japan for 500 mt of standard ingot, said two sources familiar with the deal. The cargo will be loaded in May and is expected to reach Japan over June-July.
Separately, another producer said his indication for spot premiums was at $160-180/mt plus LME cash, CIF Japan basis, but added that he has not made any firm offers.
Spot supply remains thin as producers have committed second quarter shipments to term buyers. Buyers in Southeast Asia are looking to buy LME warehouse stocks in Singapore and Malaysia instead, Japanese traders said.
One Japanese consumer last week said his supplier had suggested a premium of $230/mt plus LME cash, CIF Japan, if the supplier sourced the metal from LME warehouses.
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