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Japanese Buyers Agree for Lower Q3 Aluminium Premium

Metal News - Published on Tue, 07 Jul 2020

Image Source: Aluminium Premium LME
Reuters, citing three sources directly involved in the pricing talks, reported that some Japanese aluminium buyers have agreed to pay a global producer a USD 79 per tonne premium for July to September shipments, down 3.7% from the previous quarter, reflecting lower demand because of the COVID-19 pandemic. The July to September figure compares with USD 82 per tonne paid in April-June and marks a fourth straight quarterly drop. It is also the lowest since the October-December quarter in 2016 and down from initial offers of USD 85 producers made.

Japan is Asia's biggest aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange cash price set the pricing tone for the region.

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Posted By : Yogender Pancholi on Tue, 07 Jul 2020
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