Some Japan buyers negotiate lower Q4 aluminium premium -sources
Some Japanese aluminium buyers have agreed with at least two global producers to pay a premium of $99 a tonne over the benchmark price for October-December shipments, down 33% from the previous quarter, said two sources directly involved in the pricing talks.
The figure is lower than the $148 a tonne paid in the July-September quarter and marks a fourth consecutive quarterly drop. It is also lower than producers’ initial offers of $115-$133.
Japan is Asia’s biggest importer of the metal and the premiumsit agrees each quarter over the benchmark London Metal Exchange (LME) cash price CMAL0 set the benchmark for the region.
Source: Reuters (Reporting by Yuka Obayashi Editing by David Goodman)