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Producer offers Q4 Japan aluminum at $115/mt plus LME, CIF, down 13% from Q3

Tuesday, Sep 04, 2018

   One aluminum producer has offered to Japanese buyers $115/mt plus London Metal Exchange cash, CIF Japan, for fourth quarter shipments, down 13% from Q3's $132/mt plus LME cash, CIF, Japanese buyers said Monday.

  The producer could not be reached for confirmation.
  The buyers said the 13% reduction in the quarterly premium offer reflected the easing of fears that US sanctions on Russian producer Rusal would dry up global aluminum ingot supplies.
  According to the buyers, the producer said the US continued to attract aluminum supplies from the world over and Japanese market premiums remained supported at $115/mt plus LME cash CIF Japan.
  The buyers said they have not placed counterbids, as they were awaiting offers from other producers.
  They also pointed out to high stock levels of 300,000 mt at Japan's main port warehouses, adding that the offer at $115/mt plus LME cash CIF Japan would likely be rejected.
  The Q4 premium negotiations are expected to finalize by the end of September, sources said.

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