Company News

Some Japanese aluminium buyers agree Q1 premium at $103/T, up 8-10 pct from Q4 -sources

TOKYO, Dec 7 (Reuters) - Some Japanese aluminium buyers have agreed to pay some global producers a premium of $103 per tonne for shipments in the January to March quarter, reflecting higher spot premiums, two sources directly involved in the pricing talks said on Thursday.

The new premium is between 8.4 percent and 9.6 percent higher than the $94 to $95 per tonne premiums PREM-ALUM-JP in the current quarter. The rise is the first in three quarters.

Japan is Asia’s biggest importer of aluminium 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. (Reporting by Yuka Obayashi; Editing by Tom Hogue)