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Japan’s aluminium premium collapses: What the Q4 $86/t settlement means for Asia
Edited by : Pratyusha Chatterjee
5 min read
In late October 2025, the quarterly surcharge for imported primary aluminium into Japan was assessed at USD 86 per tonne (CIF main Japanese ports, P1020/P1020A ingot) by S&P Global Commodity Insights (Platts) — a 20.4 per cent drop from the Q3 figure of USD 108 per tonne. The decline, which came after a 41 per cent plunge in Q3 from the Q2 level of USD 182 per tonne, is a clear sign of weakening in Japan’s role as the region’s aluminium-import benchmark and highlights pressure points for exporters, especially in Asia.
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