“We have made firm offers but I can’t talk about what that level is as it’s confidential between us and customers,” a Rusal spokesman said, adding that they had started the negotiation process for delivery of aluminium to Japan in the fourth quarter.
Earlier this week, UC Rusal sent a letter to its clients indicating the Main Japan Port (MJP) premium of $460 per tonne cif basis for delivery in the October-December period, participants told Metal Bulletin.
This is an indicative price and not the final offer price by UC Rusal, sources said.
Third-quarter premiums had settled at $400-408 per tonne.
A trader who received the letter from Rusal said the company cited a tighter aluminium market amid decreasing stocks at the London Metal Exchange warehouses, smelter shutdowns and pullbacks and higher premiums in the USA for their indicative...