Bloomberg Businessweek
Aluminum Premiums for Japan Said to Reach Record on Supply Curbs
Edited by : AL CIRCLE
1 min read
Aluminum buyers in Japan, Asia’s biggest importer, agreed to pay record premiums over the benchmark prices in London for a second straight quarter after suppliers deepened output cuts, said three industry executives.
Premiums for the three months starting October were set at $253 to $255 a metric ton over the London Metal Exchange’s cash price, compared with $200 to $210 a ton this quarter, according to the executives involved in the negotiations. They declined to be identified because the fee hasn’t been publicly announced.
The increase in premiums, which include freight and insurance costs, indicates declining supplies, they said.
Premiums for the three months starting October were set at $253 to $255 a metric ton over the London Metal Exchange’s cash price, compared with $200 to $210 a ton this quarter, according to the executives involved in the negotiations. They declined to be identified because the fee hasn’t been publicly announced.
The increase in premiums, which include freight and insurance costs, indicates declining supplies, they said.
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