Initial offers for fourth-quarter supply of aluminium to main Japanese ports (MJP) are at a premium of $230 per tonne to the London Metal Exchange cash price, market participants told Fastmarkets on Tuesday August 24.
The unconfirmed offer from this producer is 28.9% higher than the cif MJP premium for the third quarter, which settled at $172-185 per tonne.This comes while the arbitrage import window has just returned to a premium for the first time in three months. According to Fastmarkets' calculations, the profit on...