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Japanese Buyer Agrees to Pay Q4 Aluminium Premium of USD 97 per tonne

Metal News - Published on Mon, 09 Sep 2019

Image Source: au.investing.com
Reuters reported that a Japanese aluminium buyer has agreed to pay a global producer a premium of USD 97 per tonne over the benchmark price for shipments in October to December, down 10% from the previous quarter. The figure is lower than the $108 per tonne paid in the July to September quarter and marks a first quarterly drop in three. It is also lower than the initial offers of USD 105 to USD 115 made by producers. Another industry source said he heard about the deal, but others have not followed it as most of buyers are seeking lower levels.

Japan is Asia’s biggest importer of the light metal and the premiums PREM-ALUM-JP for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange cash price set the benchmark for the region.

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Posted By : Rabi Wangkhem on Mon, 09 Sep 2019
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