According to a recent report, a global aluminium producer has asked for a premium of $85 per tonne from Japanese buyers for primary metal shipments during the September quarter of 2020. This is 3.7 per cent higher than the current quarter premium, reported three sources directly involved in quarterly pricing talks on Monday, June 1.
For the April-June quarter, Japanese buyers agreed to pay a premium of $82 per tonne, down 1.2 per cent from the prior quarter and the lowest since the October-December quarter in 2016.
A year ago, top aluminium producers had sought a premium of $115-120 per tonne from Japanese buyers for the September quarter, up 10 to 14 per cent from $105 per tonne of premium agreed for the June quarter.
The above data represents that the premium offered for the September quarter of 2020 is lesser by 27 to 29 per cent than the premium offered during the corresponding period last year.
Japan is Asia’s biggest importer of aluminium and the premiums it agrees to pay each quarter over the London Metal Exchange (LME) cash price for primary metal shipments set the benchmark for the region.
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