04 SEPTEMBER 2015<a href= "http://af.reuters.com/article/metalsNews/idAFL4N1125642015090" target='_blank'> Reuters </a>
Aluminium producers seek Q4 premium of $110/T from Japan buyers-sources
Edited by : AL CIRCLE
1 min read
Some big aluminium producers have offered Japanese buyers a premium of $110 per tonne for October-December primary metal shipments, up 10 percent from the previous quarter, four sources involved in quarterly pricing talks said on Tuesday.
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 July-September quarter, Japanese buyers mostly agreed to pay a $100 per tonne PREM-ALUM-JP premium, a six-year low. The nearly $300 quarterly drop, the sharpest such decline ever, was driven by swelling Chinese exports that have piled pressure on an already swamped market.
The latest quarterly pricing negotiations began last week between Japanese buyers and miners, including Rio Tinto Ltd and Alcoa Inc, and are expected to continue this month.
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 July-September quarter, Japanese buyers mostly agreed to pay a $100 per tonne PREM-ALUM-JP premium, a six-year low. The nearly $300 quarterly drop, the sharpest such decline ever, was driven by swelling Chinese exports that have piled pressure on an already swamped market.
The latest quarterly pricing negotiations began last week between Japanese buyers and miners, including Rio Tinto Ltd and Alcoa Inc, and are expected to continue this month.
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