
Two sources directly involved in quarterly price discussions stated on Tuesday, November 30 that one major aluminium manufacturer has offered Japanese customers premiums of US$195 per tonne for January-March (Q1 2022) primary metal shipments, down 11 percent from the Q4 2021.

Japan is Asia's largest importer of the metal, and it has agreed to pay quarterly premiums over the London Metal Exchange (LME) cash price for primary metal shipments. The region's benchmark was established by CMAL0.
Previously for aluminium shipments for the Q4 2021, the amount of premium paid was recorded at US$220 per tonne. For the Q3 quarter, Japanese aluminium purchasers paid US$185 for shipments.
Japanese purchasers agreed to pay a premium of US$220 per tonne PREM-ALUM-JP in the October-December quarter, up 19 percent from the previous quarter.

According to another source at an end user, premium bids for the December quarter were initially above $230 per tonne, but Japanese buyers were hesitant to pay owing to dropping vehicle manufacturing amid a global chip shortage.
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