The Platts CIF Japan premium for spot aluminum imports stood at $65-$70/mt plus London Metal Exchange cash CIF Japan on Monday, flat since October 4 as deals were reported done in this price range.
Two spot deals were reported Monday.
One was at $65/mt plus LME cash CIF main ports Asia including Japan, for 1,000 mt in November and 1,000 mt in December, destination buyer's option. The deal took place between a Japanese trader and a producer.
The second deal was at $70/mt plus LME cash CIF Japan, for 1,000 mt of mixed Good Western origins, loading in November. The deal is believed to have taken place between traders, but S&P Global Platts could not obtain details.
Most market participants appear to view the recent rise in the European and the US premiums would impact Asia in the long term. But direction seems to be mixed for the near term still.
While one producer was bid at $73-$74/mt plus LME cash CIF Japan last week for November, which he rejected, one Japanese trader said he was seeking to buy in the range of $60-$65/mt plus LME cash CIF Japan last week.
