S&P Global Platts assessed spot Japanese aluminum premiums at $86-$88/mt plus London 

Metal Exchange, cash CIF Japan, on Friday, down from $85-$94.50/mt CIF Japan on a deal 

closing at $87/mt CIF Japan. 

The $87/mt deal follows two spot deals earlier this month at $93/mt and $95/mt CIF Japan. 

The $87/mt deal was between two traders, while the other deals involved a producer. 

With  the  possibility of more spot deals as buyers remain in the market, a clearer direction 

could emerge following two months of premiums swinging up and down in the $80-$100/mt 

range. 

First quarter contract premium negotiations are expected to start in two weeks. 

A Japanese trader said  he was seeking to buy at less than $85/mt CIF Japan, adding that 

current offers, from traders and producers, were in the range of $88-$100/mt CIF Japan. 

The  potential  for  a higher premium level in Q1 may have triggered active spot buying, as buyers hope sellers with financial years closing in December may accept lower premiums fo

r December shipments, according to sources. 

Japan's domestic prices have been holding stable at Yen 250-270/kg ex-warehouse ($2,20

2-$2,370/mt) this week, market sources said. 

A  Yen  250-Yen  260/kg range is for deals of around 500 mt or more, with smaller volumes 

attracting higher prices. Deliveries are typically for November-December. 

Japanese traders said these domestic deals equate to LME cash plus an import premium of 

$100-$110/mt. 

"With domestic deals done at high levels, it is possible for the first quarter contract premium t

o settle in three digits," said one Japanese trader.