At least two traders have approached two or more Japanese buyers for sale of primary aluminum ingot for the fourth quarter of 2016, ahead of producers expected to arrive in Japan in the week of August 22, sources said Wednesday.
Offers were not specific yet as the traders appeared to be not in a hurry to close deals.
One buyer said he was indicated a sell interest in the range of $68-$70/mt plus London Metal Exchange cash, CIF Japan, for over 500 mt of P1020A-grade aluminum ingot over October to December.
Origins are at sellers' options, but are to be either Australian, Malaysian, Brazilian, South African, Middle Eastern, or North American origins.
Another Japanese buyer said discussions centered on general market outlook rather than premiums and other transaction-related details.
Producers are expected to meet buyers to discuss Q4 premiums and outlook for 2017 in the week starting August 22, said Japanese buyer and producer sources.
