Platts assessed Japan's spot aluminum premiums at $90-95/mt plus London Metal Exchange cash CIF Japan Friday, up from $87.50-92.50/mt plus LME cash CIF Japan Thursday impacted by the quarterly premium negotiations.
Japanese traders and consumers said spot deals below $90/mt plus LME cash CIF Japan were not possible as spot sellers have raised their sales targets on the back of a producer seeking 33% hike in the first quarter contract premium from the current quarter.
"I would not buy at more than $90/mt plus LME cash CIF Japan, but there is no seller at below $90/mt," said one Japanese trader.
A trader said he has been offered spot Australian ocean-going cargo at $95/mt plus LME cash CIF Taiwan.
Freight difference between Australia-Taiwan and Australia-Japan is negligible and this offer would normalize at $95/mt plus LME cash on a CIF Japan basis, he added.
A third Japanese trader said while he would bid at $90/mt plus LME cash CIF Japan, he would sell at $110/mt plus LME cash CIF Japan.
A Japanese consumer saw the market in the range of $90-$100/mt plus LME cash CIF Japan.
Producers could not be reached Friday.
