Japanese primary aluminium buyers are expected to conclude the premium price talk with offshore suppliers at US$ 116-118 per tonne level for October-December compared with around US$ 120 in July-September. Japanese buyers sought around US$ down but the down could be narrower due to tight supply in Europe and USA.
Japanese light metal rerollers and trading companies targeted US$ 115 per tonne of premium for October-December when the premium decreased to the level at tender held by South Korean Public Procurement Service (PPS). However, the suppliers in Australia and South Africa offered same premium as July-September citing tight supply in USA and Europe and strong demand. Japanese buyers resisted to the high premium when Japanese demand would decrease in second half of Japanese fiscal year and increasing domestic aluminium inventory. Japanese aluminium industry expects lower demand in October-December after subsidiary for eco-friendly vehicle while domestic aluminium inventory at port reached 260,000 tonnes compared with around 200,000 tonnes in January-June. The suppliers finally lowered the offer to less than US$ 120 per tonne. Japanese trading firm sources said the premium would be US$ 116-118 level. Despite of the compromise by the suppliers, a trader said Japanese buyers’ influence is lower than before. Japanese buyers’ presence is relative smaller than before when Asian rivals increase the production in South Korea and South East Asia.Japan Steel Scrap Composite Prices (Sangyo Press)
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