Global producer seeks Q4 aluminium premiums of $325/T from Japan buyers, sources say
Global producer seeks Q4 aluminium premiums of $325/T from Japan buyers, sources say TOKYO, Sept 2 (Reuters) - A global aluminium producer has offered Japanese buyers a premium of $325 per metric ton for primary metal shipments in the October-December quarter, down 18% from the current quarter, two sources involved in the quarterly pricing talks said on Wednesday.
Japan is a major importer of the light metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange cash price CMAL0 serve as the regional benchmark.
Another global producer made an initial offer of a premium of $310 per ton last week, down 22% from the current quarter.
(Reporting by Yuka Obayashi in Tokyo and Amy Lv in Shanghai; Editing by Christian Schmollinger)
((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))
Recent news on Rio Tinto
See all newsAustralian miners hit 7-month low as copper prices fall
Brief: Rio Tinto To Invest $1.9 Billion To Develop The Kangwinan Bauxite Project In Western Cape York, Queensland
Australia's Rio Tinto to invest $1.9 billion in Queensland bauxite project (updated)
Rio Tinto to invest $1.9 billion in Queensland bauxite project
Brief: Rio Tinto To Invest $1.9B To Develop Kangwinan Bauxite Project