Japan buyers agree to pay Q3 aluminium premium of US$185/T - sources

Japan buyers agree to pay Q3 aluminium premium of US$185/T - sources

The premium for aluminium shipments to Japanese buyers for July to September was set at US$185 a tonne, up 24per cent to 25per cent from this quarter, as global demand picked up after a pandemic-induced collapse, five sources directly involved in pricing talks said.

Aluminium ingots are seen outside a warehouse that stores London Metal Exchange stocks in Port Klan
FILE PHOTO: Aluminium ingots are seen outside a warehouse that stores London Metal Exchange stocks in Port Klang Free Zone, outside Kuala Lumpur, March 23, 2015. REUTERS/Olivia Harris

TOKYO: The premium for aluminium shipments to Japanese buyers for July to September was set at US$185 a tonne, up 24per cent to 25per cent from this quarter, as global demand picked up after a pandemic-induced collapse, five sources directly involved in pricing talks said.

The figure is higher than the US$148 to US$149 a tonne paid in the quarter from April to June, marking the fourth consecutive quarterly increase and the highest since the April-June quarter in 2015.

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

(Reporting by Yuka Obayashi; Editing by Clarence Fernandez)

Source: Reuters

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