Some Japan buyers agree to pay Q3 aluminium premium of $108/T

TOKYO: Some Japanese aluminium buyers have agreed to pay global producers a premium of $108 per metric ton over the benchmark price for shipments from July to September, down 41% from this quarter, four sources directly involved in the talks said.

The figure is down from the $182 per ton paid in April to June and marks a second consecutive quarterly decline.

But it is below initial offers of $122 to $145 per ton made by global producers.

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Japan is a major Asian importer of the light metal and the premiums for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price set the benchmark for the region.