Fresh Q3 MJP deal done at $68/t, down 20% from first deal

A deal for third-quarter aluminium ingot supply to Japan has been concluded at a premium of $68 per tonne cif main Japanese ports (MJP), sources told Fastmarkets on June 11 - a drop of 20% from a deal done last week.

The tonnage, sold by a trader to a Japanese trading house, is 1,500 tonnes, with 500 tonnes to be supplied in each month of the quarter.
This follows the first deal for the third quarter, which was done at $85 per tonne last week between a producer and an Asia-based trading house.
Market participants told Fastmarkets they felt the $85 per tonne deal was too high for the deal - they expected deals to conclude lower during negotiations due to limited demand.

“The first deal at $85 per tonne was...

Published

Alice Mason

Hui Li

June 11, 2020

10:27 GMT

Shanghai, London