Global Aluminum Producers Seek Higher Premiums from Japanese Buyers for Q1 2024

Published: Dec 3, 2024 13:53

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Global aluminum producers are seeking premium quotes for primary aluminum from Japanese buyers for Q1 2024, expected to be $230-260/mt, up 31%-49% from the current quarter. Japan, as a major aluminum importer in Asia, uses the premium quotes compared to the London Metal Exchange (LME) spot price each quarter as the regional price benchmark. Currently, for the October-December quarter, Japanese buyers have agreed to a premium quote of $175/mt, up 1.7% from the previous quarter. Recently, one producer proposed a quote of $230/mt, while another quoted $260/mt, mainly due to concerns over tight supply in Asia, which is related to China's decision to cancel export tax rebates on aluminum semi-finished products.

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