Aluminium producer seeks Q1 premium of USD from Japan buyers

Reuters, citing sources directly involved in pricing talks, reported that a global aluminium producer has offered Japanese buyers a premium of USD 91 per tonne for primary metal shipments during the January to March quarter. Japan is Asia’s biggest aluminium importer 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 October-December quarter, Japanese buyers agreed to pay a premium of USD 103 per tonne PREM-ALUM-JP, down 22 percent from the prior quarter to reflect a slide in Asian spot premiums amid ample supply.