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First Japan Q3 aluminum premium concludes at $132/mt plus LME, CIF

Wednesday, Jun 20, 2018

   A producer and a Japanese buyer have agreed to set the third-quarter contract premium for P1020 aluminum ingot at $132/mt plus London Metal Exchange cash, CIF Japan, a source involved in the negotiations said Tuesday. A Japanese buyer confirmed that Q3 discussions are around $130/mt plus LME cash, CIF Japan, but declined to elaborate on details.

  The premium of $132/mt is up 2% from $129/mt for Q2. Producers initially offered $159-$160/mt plus LME cash CIF Japan, while buyers bid at $110-$120/mt CIF Japan.
  Producers cited US sanctions on Russian producer Rusal and imposition of 10% import tariff as having raised demand, while buyers said the market has calmed after adjusting to US policy changes.
  Around 15 Japanese buyers and five producers are participating in the Q3 negotiations for standard P1020 ingot and value added products. The talks are expected to settle by the end of the month.

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