Japanese buyer shells out 48% increase in Q2 aluminium premium, settles at $130/ tonne
According to a source directly involved in pricing discussions, a Japanese aluminium buyer has agreed to pay a premium of $130 per tonne above the benchmark price for shipments scheduled from April 2024 to June 2024.
This marks a significant 48 per cent increase from the previous quarter. The agreed premium surpasses the $88 per tonne paid in the October to December 2023 period and represents the second consecutive quarterly rise, reaching the highest level since the third quarter of 2018.
However, it falls below the initial offers of $138-$140 made by producers the previous month.
Japan, being Asia's largest importer of aluminium, sets the standard for the region with these premiums over the benchmark London Metal Exchange (LME) cash price for primary metal shipments each quarter.
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