SMM9, march 8: according to sources, Japanese buyers have agreed to raise the price of aluminum premium in the fourth quarter to $88 a tonne from $79 a tonne in the current quarter, an increase of 11% from the previous quarter, the first quarterly increase in five years.
According to sources, the producer's initial intention was US $95-98 per tonne.
Japan is the largest importer of aluminium in Asia, and the premium that Japanese buyers agree to pay each quarter on the spot price of (LME) on the London Metal Exchange has become an Asian pricing indicator.
Late last month, Japanese buyers began the latest quarterly pricing negotiations with global suppliers such as Rio Tinto's (Rio Tinto) and South 32, which are expected to continue later this month.
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