Platts assessed the spot 99.7% P1020/P1020A aluminum ingot premium at $80-$85/mt plus LME cash, CIF Japan, on Tuesday, down from $84-$86/mt on Monday.
A few international traders expressed selling interest at below $85/mt plus LME CIF Japan Tuesday, but had not made any firm offers due to a lack of buying interest from Japanese buyers, sources said.
An international trader said deals at $80-$85/mt plus LME cash CIF Japan were possible, as his offer at $80/mt plus LME cash CIF Taiwan was rejected this week.
A Japanese trader was indicated a sell interest at $80/mt plus LME cash, CIF Japan, for seaborne cargoes loading in July or August, from another international trader. It was not a firm offer but had a deadline.
Meanwhile, most market participants were focused on negotiations for third quarter premiums.
A producer, who had offered at $110/mt plus LME cash CIF Japan, said he had rejected a bid at $90-$100/mt plus LME cash CIF Japan.
A consumer put a possible settlement level at $95/mt plus LME cash CIF Japan while another put it at $97/mt plus LME cash CIF Japan.
A consumer and a producer agreed on Q3 billet sale at $110/mt ingot premiums, and billet upcharge estimated at around $150/mt, plus LME cash CIF Japan, Platts reported earlier.
The $110/mt deal was not taken into account for Platts' quarterly premium assessment which is for ingot.
