Premiums for Good Western grade aluminium for shipment to Japan in the third quarter of 2007 settled earlier this week at $69-70/mt CIF Japan plus London Metal Exchange cash, sources close to the talks said. Talks are still ongoing in Tokyo.
Some Japanese traders and western aluminium producers agreed to set premiums for primary aluminium of Good Western specification at $69-70/mt CIF Japan plus London Metal Exchange cash. One trader said he considered this level to be "rather high," but had accepted it as he had been able to ask for a specific origin of the metal. He added that he was seeing $68/mt CIF Japan for Good Western aluminium of unspecified origins. A second trader added that $68/mt CIF was possible, attributing soft market sentiment to the further fall in premiums from Q2.
The Q2 premiums were at $71-74/mt CIF Japan plus LME cash prices. The Q3 talks started with initial offers at $69-73/mt CIF Japan, lower than Q2, reflecting falling premiums in the US and decreases in rolled aluminium shipments in Japan.
豫公网安备41010502003434号