The first deal for first-quarter aluminium ingot supply to Japan in 2020 has been concluded at a premium of $83 per tonne basis cif main Japanese ports (MJP), market sources told Fastmarkets on Thursday December 5.
This deal marks the lowest quarterly deal since the fourth quarter of 2016, when the benchmark settled at $75 per tonne, and it is 14.4% lower than the 2019 fourth-quarter benchmark of $97 per tonne.Most market participants say this deal, agreed on between a Japanese end user and an overseas supplier, comes on very early in the negotiations...