TOKYO Nov 25 A major aluminium producer has
offered Japanese buyers a premium of $95 per tonne for primary
metal shipments in the January to March period, up 27 percent
from the previous quarter, four sources directly involved in
pricing talks said on Friday.
Japan is Asia's biggest importer of the metal 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.
For the October-December quarter, Japanese aluminium buyers
agreed to pay a premium of $75 a tonne for metal PREM-ALUM-JP,
down 17 percent to 19 percent from the prior quarter, on softer
spot premiums amid a supply glut.
The quarterly pricing negotiations are held between Japanese
buyers and global miners including Rio Tinto Ltd
Alcoa Inc and South32 Ltd. Some negotiations
have begun this week and are expected to continue until next
(Reporting by Yuka Obayashi; Editing by Christian Schmollinger)