The settlement represents a 10% or $11 per tonne drop from the third-quarter benchmark of $108 per tonne
, which was set at the end of June.
Deals for more than 60,000 tonnes between three major producers, a consumer and several traders for October to December delivery were directly reported to Fastmarkets by at least one side of the trades. The settlement is in line with Fastmarkets' methodology.
Talks between overseas producers and Japanese buyers began at the end of August with...