TOKYO: Premiums for Japanese aluminium shipments for April to June were set at $105 per tonne, up as much as 27 percent from the previous quarter, on higher local spot premiums, five sources directly involved in the pricing talks said.
The new figure is higher than the $83 to $85 per tonne premiums in the January to March quarter and marks the first increase in three quarters. Producers had originally sought premiums of $109 to $112 per tonne for the second quarter.
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.
The latest quarterly price negotiations began late last month between Japanese buyers and global producers, including Rio Tinto and South32 Ltd.
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