Some Japanese aluminium buyers agree to Q3 premium at $119/T

TOKYO: Some Japanese aluminium buyers have agreed to pay producers a premium of $119 per tonne for shipments in the July to September quarter, reflecting lower spot premiums, three sources directly involved in the quarterly pricing talks said on Thursday.

This is a 7 percent decline from the $128 per tonne premiums  in the previous quarter and the first quarterly drop in three.

Many other Japanese buyers are still negotiating with global producers, with further deals expected later this month.

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.