Offers for Chinese ADC12 aluminum alloys have dropped in the last two days ahead of the close of Toyota Motor's tender seeking 10,000 mt/month of molten aluminum alloy and ingot for January-March 2014 on Monday, Japanese traders said Friday.
At least two Chinese alloy producers have reduced offers by $5/mt compared to earlier this week, traders said. One producer offered at $2,135/mt CFR Japan for February-loading cargoes, saying December-January cargoes were limited due to the Lunar New Year holidays at the end of January. Another producer, who offered at $2,135/mt CFR Japan, said that December cargoes were available.
The most competitive offers were for Nigerian alloy at $2,115-2,225/mt CFR Japan for December shipments, traders said.
Offers fell as the yen strengthened against the dollar, which has been trading above Yen 102 since Wednesday, compared with Yen 99-100 two weeks ago. Japan's spot imports fell as the stronger yen increased purchase costs by 1-2%.
Offers for Chinese ADC12 aluminum alloys have dropped in the last two days ahead of the close of Toyota Motor's tender seeking 10,000 mt/month of molten aluminum alloy and ingot for January-March 2014 on Monday, Japanese traders said Friday.
At least two Chinese alloy producers have reduced offers by $5/mt compared to earlier this week, traders said. One producer offered at $2,135/mt CFR Japan for February-loading cargoes, saying December-January cargoes were limited due to the Lunar New Year holidays at the end of January. Another producer, who offered at $2,135/mt CFR Japan, said that December cargoes were available.
The most competitive offers were for Nigerian alloy at $2,115-2,225/mt CFR Japan for December shipments, traders said.
Offers fell as the yen strengthened against the dollar, which has been trading above Yen 102 since Wednesday, compared with Yen 99-100 two weeks ago. Japan's spot imports fell as the stronger yen increased purchase costs by 1-2%.
