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Print[Ferro-Alloys.com] The Chinese spot ingot price was heard around RMB15,270/mt Tuesday, down from RMB 15,400/mt last Tuesday, while the September aluminum futures contract was at RMB 15,290/mt on the Shanghai Futures Exchange, down from RMB 15,410/mt last Tuesday.
On Monday, the LME official cash price for aluminum was USD 1,798-1,799/mt, compared with USD1, 823.50-1,824/mt a week earlier.
Meanwhile, spot import trade of Chinese-origin ADC12 into Japan was thin due to the US dollar trading above Yen 79, the highest rate since the middle of July, Japanese trade sources said Tuesday.
The lowest offer from a Chinese producer was heard at USD 2,120/mt CFR Japan for October shipment from Guangzhou, but this failed to attract buyers.
Most Chinese producer offers were at USD 2,130-2,150/mt. Russian producers were also offering in this range for late September-early October shipments.
Sigma lowered its offers to USD 2,245/mt Tuesday, down from USD 2,255/mt last Tuesday."It has been quiet so far. I haven't heard any inquiries from Japan," said an East China-based producer, who last indicated offers around USD 2,140/mt.
Japanese diecasters were inactive, preferring to wait until next week when automakers will announce their September-November production plans. "My customers are buying for November and there is still time," one Japanese trader said.
One Japanese diecaster source said the aluminum component order volumes for the next three months are flat.
The Platts Chinese export assessment Tuesday was held steady at USD 2,120-2,140/mt FOB China Tuesday, unchanged from the previous Tuesday.
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