Japan spot aluminum premiums rose to $100-$115/mt plus London Metal Exchange cash CIF Japan on Friday, from $95-$115/mt plus LME cash CIF Japan on Thursday on more buyers.
A few Japanese buyers were in the market this week seeking spot April cargoes, but one producer said he had turned them down.
The buyers expected aluminum premiums to be higher for the April-June quarter and wanted to buy before the Q2 premium negotiations were finalized, another supplier said, adding that he had also received inquiries.
A seller said that he would not offer until he had a clearer idea of the Q2 premium level.
Market participants said there was no seller at $95/mt plus LME cash CIF Japan, the Q1 contract premium level, as Russian producer Rusal offered Q2 premiums at $125/mt plus LME cash CIF Japan, up 32% from Q1.
