
Three sources have confirmed that some Japanese aluminium buyers have agreed with at least two global producers on the premium payment of $172 per tonne for June shipments, compared to $177 million in the previous quarter. That reflects a quarter-on-quarter downfall of $5 per tonne or 2.8 per cent from $177 per tonne.
The decline of premium for the June quarter marks a second consecutive quarterly drop, even less than initial offers of $195-250 per tonne made by producers.
In the last quarter, the premium of aluminium shipments to Japan had seen a significant fall of 20 per cent on the ease of local spot premiums and overseas prices, recording a first quarterly decline in six months. In the December quarter of 2021, the premium was set at $220 per tonne.

Japan is Asia’s biggest importer of aluminium and the premiums agreed for shipments to Japanese buyers over the benchmark London Metal Exchange cash price set the milestone for the region.
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