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.
