Q3 MJP talks start below $150/t, market participants say

Initial discussions between Japanese buyers and global producers for settlement of third quarter Main Japan Port (MJP) aluminium premiums have begun below $150 per tonne, down from the current quarter's $380 per tonne level, some market participants have said.

“These are just numbers that we have discussed so far. No firm offers have been made,” a market participant said.
The numbers we are hearing are below $150 per tonne, a trader said, adding that “quarterly benchmark is set for a fall”.
“Some offers are below $150,” a third market participant said, highlighting that weak demand and high inventories in the Japanese market as the reasons behind the fall from current quarter premiums.

Another market participant said the talks had started...


Deepali Sharma

May 29, 2015

09:11 GMT