10 DECEMBER 2014AlCircle.com
Japan once again agrees to pay record premiums for aluminium
Edited by : AL CIRCLE
1 min read
The premiums have gone up considerably as there are reports suggesting two top aluminium producers are demanding record premiums of $435-$440 per tonne for deliveries due in January-March, which is 4.8 percent higher than the previous quarter, said two sources involved in the quarterly pricing talks.
Since Japan is the biggest importer of aluminium in Asia, the kind of premium they pay over the LME cash price for the metal sets the benchmark in the region.
The last time the Japanese paid a record premium was in the October-December quarter paying $420 per tonne PREM-ALUM-JP, 3-5 percent higher than the previous quarter.
The discussions for the latest quarterly pricing started earlier this month between the Japanese buyers and the top aluminium producers like Rio Tinto, BHP Billiton and Alcoa Inc. The discussion may continue for weeks before they agree on a particular price.
Since Japan is the biggest importer of aluminium in Asia, the kind of premium they pay over the LME cash price for the metal sets the benchmark in the region.
The last time the Japanese paid a record premium was in the October-December quarter paying $420 per tonne PREM-ALUM-JP, 3-5 percent higher than the previous quarter.
The discussions for the latest quarterly pricing started earlier this month between the Japanese buyers and the top aluminium producers like Rio Tinto, BHP Billiton and Alcoa Inc. The discussion may continue for weeks before they agree on a particular price.
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