One aluminium producer seeks Q1 premium of $120/T from Japan buyers

An aluminium producer has offered Japanese buyers a premium of $120 per tonne for January-March primary metal shipments, up 33 percent from the previous quarter, said sources close to industry bodies asscoiated with pricing of metals.

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 buyers mostly agreed to pay a premium of $90 per tonne PREM-ALUM-JP, down 10 percent from the prior quarter.

The latest quarterly pricing negotiations began this week between Japanese buyers and miners including Rio Tinto Ltd, Alcoa Inc and South32 Ltd, and are expected to continue next month.

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