Platts on Thursday assessed premiums for primary aluminum imported into Japan in the second quarter of 2016 at $115-$117/mt plus London Metal Exchange cash, CIF main Japanese ports, up 5% from $110/mt plus LME cash CIF Japan for the first quarter.
The Q2 assessment was on the basis of 12 settlements in total at $115/mt, $116/mt and $117/mt plus LME cash CIF Japan, for 500-2,000 mt/month of seaborne P1020/P1020A ingot for loading over April to June.
Nine settlements were at $115/mt plus LME cash CIF Japan, one at $116/mt plus LME cash CIF Japan, and two at $117/mt plus LME cash CIF Japan.
The total aluminum volume for the 12 settlements were 10,000 mt/month or more.
Platts specifications are for P1020/P1020A 99.7% primary aluminum ingot to be shipped to Japanese main ports in Q2, with payment of cash against documents for volumes of 500 mt/month or greater.
Ten other settlements were reported but were not taken into account for the Platts assessment as they were determined to have fallen outside the Platts specifications.
Four settlements were for less than 500 mt/month, and one settlement was between two affiliated companies.
Five remaining settlements were also determined to have fallen outside the Platts specifications as they were for value added products such as billet, slab and foundry alloy.
The premiums for value added products were reported in the range of $115-$118/mt plus LME cash CIF Japan.
The 10 settlements not taken into account for the assessment were for a total volume of 4,500 mt/month or more.
Around 20 companies, comprising Japanese trading houses, consumers and overseas suppliers, took part in the negotiations that began in February.
