The main Japanese ports (MJP) premium edged down during the week to Tuesday June 9 on lower offers, while premiums in the rest of Asia, Europe and the United States maintained their levels on steady fundamentals.
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The spot aluminium premium in Japan softened over the past week on poor demand and declining offers, although little activity was reported, market sources said.
Fastmarkets assessed the
aluminium P1020A main Japanese ports (MJP) spot premium, cif Japan at $75-80 per tonne on Tuesday June 9, narrowing by $5 per tonne on the high end from $75-85 per tonne previously, where it had held since May 15.
"The spot market is very quiet these days and nobody wanted to take my metal. We offered $75 per tonne for 500 tonnes July shipment and I can't find a buyer who was willing to pay this price. Most bids were $70-71 per tonne," one trader said.
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