Some Japan aluminium buyers agree Q4 premium at $88/T, up 11% on qtr-sources

TOKYO, Sept 4 (Reuters) - Some Japanese aluminium buyers have agreed to pay an $88 per tonne premium for October-December shipments, up 11% from this quarter, as industrial demand recovers from the pandemic, four sources directly involved in the pricing talks said on Friday.

The figure is higher than the $79 per tonne premiums paid this quarter and marks a first quarterly increase in five.

Producers had originally sought premiums of $95-$98 per tonne, according to the sources.

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. (Reporting by Yuka Obayashi; Editing by Muralikumar Anantharaman)