28 AUGUST 2014Alcircle.com
Rio Tinto charges 3-5% higher aluminium premiums from its Japanese buyers
Edited by : AL CIRCLE
1 min read
According to Reuter reports, four sources revealed on Tuesday, Rio Tinto is charging a record premium of $420 per tonne from its Japanese buyers for October-December primary metal shipments, which is 3-5 percent higher than the last quarter.
Being the biggest importer of the metal, the premium that Japan agrees to pay for the metal shipments each quarter, above the LME price, sets the benchmark in the area.
Rio Tinto’s quote was lesser than that made by Russia’s United Company Rusal Plc who quoted $460 per tonne. Rio Tinto was not available for comment regarding the offer.
Japanese aluminium buyers have already paid record high premiums for the July-September quarter amounting to $400-$408 per tonne over the London Metal Exchange prices, which is 8-12 percent higher than the last quarter.
Being the biggest importer of the metal, the premium that Japan agrees to pay for the metal shipments each quarter, above the LME price, sets the benchmark in the area.
Rio Tinto’s quote was lesser than that made by Russia’s United Company Rusal Plc who quoted $460 per tonne. Rio Tinto was not available for comment regarding the offer.
Japanese aluminium buyers have already paid record high premiums for the July-September quarter amounting to $400-$408 per tonne over the London Metal Exchange prices, which is 8-12 percent higher than the last quarter.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
London Metal Exchange given immunity in aluminium lawsuit
Next articleGlobal cues push aluminium down by 0.32%
Grow with
AL Circle
