1. Most Discussed
  2. Gainers & Losers

Some Japanese aluminium buyers agree to Q4 premium at $95/T, down about 20 pct Q/Q -sources

Bookmark and Share
  1. TOKYO, Sept 14 (Reuters) - Some Japanese aluminium buyers have agreed to pay a global producer a premium of $95 per tonne for shipments in the October to December quarter, reflecting lower spot premiums, two sources directly involved in the pricing talks said on Thursday.

    The new premiums are between 19.5 percent and 20.2 percent lower than the $118 to $119 per tonne premiums PREM-ALUM-JP in the previous quarter and the prices are down for a second consecutive quarter.

    The buyers who made the deal with the single producer are still negotiating with other global sellers while many other Japanese buyers are in talks with all of the producers, with further deals expected later this month.

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

    Discuss this via RIO | S32


DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The aim of HotCopper News is to report and comment on news in the financial and investment markets. HotCopper provides no advice on dealing in securities and is not a financial advisor. Professional advice should be sought before making any investment decisions.

Contact editor: [email protected]

To read reuters' full disclaimer click here
Top