Japan aluminium buyers to pay lower Oct-Dec import premiums

TOKYO: Japanese aluminium buyers will pay up to 21 percent less in import premiums in the October-December quarter to reflect a slide in spot premiums, five people directly involved in quarterly pricing talks said.

The aluminium premium was set at $94 to $95 per tonne for metal to be shipped in the fourth quarter, down 19.5 percent to 21.0 percent from $118 to $119 per tonne in the previous quarter, the sources said.

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.

Following is a table of premiums agreed between Japanese buyers and global suppliers since 2005.