Japan's Q4 aluminium premium talks conclude mostly at $65/mt

Tokyo -- Negotiations over premiums for Good Western grade primary aluminium for shipment to Japan in the fourth quarter of this year are beginning to settle, mostly at $65/mt plus the London Metal Exchange cash price, Japanese traders said. Representatives from eight or more Japanese trading houses are currently in Dubai, discussing the Q4 premiums with producers of Good Western aluminium. Some buyers and sellers agreed to set the premiums at $65/mt plus London Metal Exchange cash price, on a CIF basis, trade sources said. Talks are still continuing. The Q4 premiums fell from $68-70/mt CIF for Q3. The Q4 premium talks started in the last week of August. Initial offers were $74-75/mt CIF and $66-67/mt CIF, according to sources at the talks. Some Japanese buyers said they told producers they were ready to skip Q4 shipments if producers insisted on selling at $74-75/mt plus LME cash CIF.