September 27, 2019 / 8:50 AM / 24 days ago

Japan Q4 aluminium premiums set at $97/T, down 10% Q/Q

TOKYO, Sept 27 (Reuters) - Premiums for aluminium shipments to Japan for October to December were set at $97 per tonne, down 10% from the previous quarter, amid ample supplies in Asia and softening demand from the electronics and auto industries, three sources directly involved in the pricing talks said.

The figure is lower than the $108 per tonne paid in the July-September quarter and marks a first quarterly drop in three.

It is also lower than the initial offers of $105-$115 made by producers.

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 (LME) cash price set the benchmark for the region. (Reporting by Yuka Obayashi; editing by Jason Neely)

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