Platts reported that Japan's spot premiums for Good Western grade aluminium to be imported into Japan jumped to USD 100 to USD 120 per tonne plus London Metal Exchange cash CIF Japan, up from the previous week's USD 68 to USD 77 per tonne CIF.
One Japanese trader was offered USD 110 to USD 120 per tonne plus
LME cash CIF from a Western trader for June or July 2009 shipments. The deal is not closed yet, the trader said, adding that Japanese importers must be prepared to pay over USD 100 per tonne plus
LME cash CIF as the metal supply has tightened in Asia.
Two other traders looking for spot materials from the Western traders were told there was no spot supply available. One Western trader had indicated USD 140 per tonne plus
LME cash CIF as his premium idea.
A fourth trader estimated the premiums to be above USD 100 per tonne as well, as this would be the minimum cost for sourcing the metal from
LME warehouses in Singapore or Malaysia.
The trader said that "The fees for changing the names of the warrant would be USD 50 per tonne, documentation fees to get the metal out of the warehouse USD 30 to USD 40 per tonne and USD 20 to USD 30 per tonne for freight changes from Asia to Japan."
Spot Japanese as well as import premiums in other parts of Asia jumped on the back of supply running tight after a Russian supplier suggested a possible cutback in their Q3 shipments, which would tighten Asia's supply.
(Sourced from www.platts.com)
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