First MJP Q3 deal concludes at $85; market remains bearish

The first deal for aluminium cif main Japanese ports (MJP) for the third quarter has concluded at a premium of $85 per tonne, multiple market sources told Fastmarkets this week, but many expect cheaper deals to emerge.

The deal is said to be between a producer and an Asia-based trading house. The transaction is 21.3% lower than last year’s third-quarter aluminium P1020A MJP quarterly premium settlement of $108 per tonne and is only marginally higher than the second-quarter settlement at $82 per tonne.

This quarter’s inaugural deal was concluded higher than expected for most market participants and there are expectations the following deals could be concluded at lower...

Published

Justin Yang

Karen Ng

June 05, 2020

09:55 GMT

Singapore; London