Japan Q2 aluminum premium settlements reported at $365, 367 and 375/mt

Aluminum producers and Japanese trading houses have reported Thursday settling the Japanese contract premiums for the second quarter at premiums of $365/mt, $367/mt and $375/mt to London Metal Exchange cash, CIF Japan.

Two Japanese buyers have reported Q2 premiums of $365/mt plus LME cash, CIF Japan, for over 1,000 mt/month shipments of P1020A specification ingot over April to June. The producer, however, could not be reached for confirmation.

A deal at $367/mt plus LME cash CIF Japan, and another one at $375/mt plus LME cash CIF Japan, both for over 500 mt/month shipments, were reported.

However, counterparties in the deals could not be reached for confirmation.

Platts confirmed on March 10 another producer settling Q2 premiums with several Japanese buyers at $365/mt plus LME cash CIF. They were for over 1,000 mt/month ingot shipments.

The deals, however, account for less than 10% of Japanese monthly imports. The negotiations are expected to continue into next week, Japanese buyers said.

The negotiations, participated by 20-30 companies, are for over 50,000 mt/month shipments of primary aluminum ingot imported to Japan over April to June.

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