Metal Bulletin assessed the spot cif MJP premium at $120-140 per tonne on Friday April 13, up $10-15 per tonne or around 11% from an assessed price of $110-125 per tonne on April 10. The premium last reached $140 per tonne in June 2015.
Offers were in a range of $150-200 per tonne, though no deals have taken place at this level yet.
Some buyers had also increased their acceptable price ranges, with one consumer looking to buy at $130-140 per tonne.
“We received offers from a trader at $150-160 per tonne cif but we don’t think it is a fair number. We think $130-140 cif is fairer and will buy...