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Global aluminum producer seeks Q1 premium of USD92/t from Japan buyers
2019-12-02 11:36:27 【Print】
A global aluminum producer has offered Japanese buyers a premium of $92 per tonne for January-March primary metal shipments, down 5.2% from the current quarter, four sources directly involved in quarterly pricing talks said last Friday.
Japan is Asia's biggest importer of the metal 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 $97 per tonne, down 10% from the prior quarter.
The latest quarterly pricing negotiations began last week between Japanese buyers and miners including Rio Tinto Ltd. and South32 Ltd., and are expected to continue to next month.
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Japan is Asia's biggest importer of the metal 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 $97 per tonne, down 10% from the prior quarter.
The latest quarterly pricing negotiations began last week between Japanese buyers and miners including Rio Tinto Ltd. and South32 Ltd., and are expected to continue to next month.
.