Advertisement

UPDATE 1-Some Japanese aluminium buyers agree Q1 premium at $103/T - sources

UPDATE 1-Some Japanese aluminium buyers agree Q1 premium at $103/T - sources
From Reuters - December 7, 2017

TOKYO (Reuters) - Some Japanese aluminum buyers have agreed to pay some global producers a premium of $103 per tonne for shipments in January to March, reflecting higher spot premiums, two sources directly involved in the pricing talks said on Thursday.

The new figure is higher than the $94-$95 per tonne premium in the current quarter, and the increase is the first in three quarters.

Japan is Asias biggest importer of aluminum and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange cash price set the benchmark for the region.

One of the major buyers reached the deal with two producers while another buyer struck an agreement with a single seller, according to the sources.

Advertisement

Continue reading at Reuters »