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Producers seek Q2 aluminium premium of $370-375/T from Japan buyers
February 24, 2014 / 10:52 AM / in 4 years

Producers seek Q2 aluminium premium of $370-375/T from Japan buyers

TOKYO, Feb 24 (Reuters) - Top aluminium producers have offered Japanese buyers a record premium of $370-375 per tonne for April-June primary metal shipments, up 45-47 percent from the previous quarter, four sources involved in quarterly pricing talks said on Monday.

Japan is Asia’s biggest importer of the metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region.

For the January-March quarter, Japanese buyers mostly agreed to pay a premium of $255 per tonne , up at least 3 percent from the prior quarter and matching a record high hit in 2012.

The latest quarterly pricing negotiations began this month between Japanese buyers and miners including Rio Tinto Ltd and United Company Rusal Plc , and are expected to continue to next month.

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