According to the latest Reuters update, the premium for aluminium shipments to Japanese buyers has been set at $88 per tonne for October-December. The premium is higher by 11 per cent from this quarter, reported sources involved in market pricing. The premium stood higher as industrial demand recovers from the COVID-19 pandemic.
During July-September quarter, the premiums for aluminium shipments were $79 per tonne. This marks a first quarterly increase in five.
According to the sources, producers had originally sought premiums of $95-$98 per tonne.
Japan is the biggest importer of aluminium in Asia and the premiums it agrees to pay for primary aluminium shipments for each quarter over the cash price settled at the London Metal Exchange (LME) set the benchmark for the region.
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