Japanese Aluminium Buyers Agree to Higher Premiums for Q3 2024
July 16, 2024
Japanese aluminium buyers have agreed to pay a premium of $172 per metric ton over the benchmark price to two global producers for shipments in the third quarter of 2024. This represents a 16%-19% increase from the previous quarter, according to two sources involved in the pricing negotiations.
The agreed premium is higher than the $145-$148 per ton paid in the April-June quarter, but lower than the initial offers from producers, which ranged from $175 to $190 per ton.
Japan, a major Asian importer of aluminium, sets the benchmark premiums for the region through its quarterly agreements for primary metal shipments over the London Metal Exchange (LME) cash price.
