Japanese aluminium rolling mills and primary aluminium producers have agreed to set the premiums for the metal shipped to Japan in the third quarter of 2007 at $67-69/mt CIF Japan, sources close to the talks said on Monday.
Mill sources contacted by Platts said they have concluded talks with some producers on Friday, setting the premiums at $67-69/mt CIF Japan plus London Metal Exchange cash. The premium negotiations started at the end of May. Talks are still ongoing among some traders, mills and producers.
One mill source said he has agreed to set the premiums at $67-68/mt CIF with a producer, for primary aluminium of Good Western specification of unspecified origins. Another mill source said his company has set the premiums higher at around $69/mt CIF equivalent, for various product types including slabs and billet.
On the week ended June 1, some trading companies have set the premiums at $69-70/mt CIF Japan, for Good Western grade metal specifying origins.
The Q3 premiums have fallen from the Q2 levels of $71-74/mt CIF due to weakness in demand.
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