Japan's Q3 aluminum premium offers at $123-$128/mt, CIF, down from Q2

Three aluminum producers have offered to Japanese aluminum buyers premiums of $123-$128/mt plus London Metal Exchange cash CIF Japan for third-quarter shipments, down from $128/mt CIF for Q2, market sources said Tuesday.

Rusal offered $128/mt plus LME cash CIF Japan, Rio Tinto Japan $123/mt plus LME cash CIF Japan, and a third global producer at $125/mt plus LME cash CIF Japan.

A fourth producer has held meetings with buyers but he has not placed his offer yet, a Japanese buyer said.

Q2 premiums rose 35% from Q1 on the rise in US premiums, and the Q3 premiums, in theory, should track the US premiums lower, a Japanese buyer said.