Some Japanese buyers are showing interest in aluminum for loading in the first quarter of 2017, but a spot offer for December-loading cargo has failed to attract interest, market sources said Monday.
Platts CIF Japan spot premium for P1020/P1020A aluminum ingot was assessed at $65-$70/mt plus London Metal Exchange cash CIF Japan Monday, unchanged since October 4, due to a lack of buying interest for December cargoes.
Platts assessment is for spot cargo for loading in the following month of transaction.
December cargoes are not attracting buyers due to a tight spread of less than $5/mt between LME cash and December contracts, a Japanese trader said.
A producer said he has offered $67.37/mt plus LME cash CIF Japan for December loading, but has been unable to find buyers.
A second Japanese trader said he is interested in cargoes for January-March loading, and has bid $73-$74/mt plus LME cash CIF Japan to another producer.
The producer has not responded, according to the trader.
