December 1, 2017 / 2:18 AM / a year ago

Aluminium producer seeks Q1 premium of $110/T from Japan buyers -sources

TOKYO, Dec 1 (Reuters) - A global aluminium producer has offered Japanese buyers a premium of $110 per tonne for primary metal shipments during the January to March period, as much as 17 percent above the current quarter, three sources directly involved in pricing talks said on Friday.

Japan is Asia’s biggest aluminium importer 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 agreed to pay a premium of $94-$95 per tonne PREM-ALUM-JP, down as much as 21 percent from the prior quarter to reflect a slide in local spot premiums. (Reporting by Yuka Obayashi; editing by Richard Pullin)

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