The first deal for third-quarter aluminium ingot supply to Japan has been concluded at a cif premium of $108 per tonne basis main Japanese ports (MJP), nearly 3% above the second-quarter benchmark, market sources told Fastmarkets on Thursday June 6.
The deal between a Japanese aluminium trading firm and an overseas supplier was agreed very early in the negotiations process and slightly above market expectations of a rollover. The deal for up to 15,000 tonnes for the July-September period is on top of London Metal Exchange cash price. The benchmark quarterly premium settled at $105 per tonne...