Save
Print (Platts)Spot premiums for primary aluminium ingots for export to Japan edged down to $110-120/mt to London Metal Exchange cash CIF prices, from $130-140/mt CIF, due to increased spot availability, market sources said Monday.
A Japanese trader said Western traders indicated offers at $110-120/mt CIF Japan. The offers were for cargoes to be delivered into Japan in July as the metal has already been loaded onto vessels, and also for aluminium that will be produced in the weeks ahead and will reach Japan possibly around September.
Premiums eased after Asian buyers found replacements for Russian-origin aluminium that was expected to be delivered in the current quarter, several trade sources said.
Based on the results of a South Korean tender earlier this month, spot premiums were seen at less than $120-130/mt CIF Northeast Asia, a source close to a producer said.
South Korea's Public Procurement Service sourced 2,000 mt of non-Western grade primary aluminium at $128/mt plus LME cash CIF Incheon for delivery on August 20.
"Sellers charge higher premiums if buyers specify delivery dates instead of vessel loading dates, which makes it difficult for overseas sellers as they need to have cargoes at the destinations in advance, to make the delivery date," the source said.
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:editor]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Online inquiry
Contact
Tell Us What You Think