September 19, 2018 / 9:40 AM / 2 months ago

Some Japanese aluminum buyers agree fourth quarter premium at $103 per tonne, down 22 percent quarter-on-quarter: sources

TOKYO (Reuters) - Some Japanese aluminum buyers have agreed to pay a global producer a premium of $103 per tonne for shipments in the October to December quarter, reflecting lower spot premiums, two sources directly involved in pricing talks said on Wednesday.

The premium is 22 percent lower than the $132 per tonne premium in the current quarter and follows three quarters of rising premiums.

Japan is Asia’s biggest importer of aluminum 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

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