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A Japanese aluminium buyer has agreed to pay a global producer a premium of $145 per metric ton over the benchmark price for shipments in April to June, up 61% from the current quarter, two sources involved in the pricing talks said.
The figure is much higher than the $90 per ton paid in the January-March quarter and falls at the lower end of the initial offers of $145-$155 made by producers.
Japan is an Asia’s major importer of the light metal and the premiums PREM-ALUM-JP for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price CMAL0 set the benchmark for the region.