Tokyo — One aluminum producer and a Japanese trader have agreed to set the fourth-quarter contract premium at $103/mt plus London Metal Exchange cash, CIF Japan, down 22% from $132/mt CIF Japan for the third quarter, sources in the talks said Wednesday.
The deal is for 500-1,500 mt/month of P1020 aluminum ingot to be shipped to Japan in the October-December period, sources said.
This was the first settlement after one producer offered $115/mt plus LME cash CIF Japan last week and another producer $112/mt plus LME cash CIF Japan Tuesday.
The negotiations are for aluminum ingot and value-added products of mainly Australian, South African, Russian and Canadian origins. The talks, involving up to five producers and 15 Japanese buyers, are expected to finalize by the end of this month.
