June 21, 2019 / 8:43 AM / 3 months ago

Japan Q3 aluminium premiums set at $108/T, up 3% Q/Q -sources

TOKYO, June 21 (Reuters) - Premiums for Japanese aluminium shipments for July to September were set at $108 per tonne, up 3% from the current quarter, as tighter supply in Asia outweighed fears over weakening demand, five sources directly involved in the pricing talks said.

The new figure is higher than the $105 per tonne premiums PREM-ALUM-JP in the April to June quarter and marks a second straight quarterly increase. Producers had sought premiums of $115 to $120 per tonne for the third quarter.

Japan is Asia’s biggest importer of aluminium 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.

The latest quarterly price negotiations began late last month between Japanese buyers and global producers, including Rio Tinto , South32 Ltd and Alcoa Corp . (Reporting by Yuka Obayashi; Editing by Tom Hogue)

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