June 29, 2018 / 8:17 AM / 6 months ago

Japan Q3 aluminium premiums set at $132/T, up 2 pct Q/Q-sources

TOKYO, June 29 (Reuters) - Premiums for Japanese aluminium shipments for July to September were set at $132 per tonne, 2 percent higher than the previous quarter on rising spot premiums in the United States and supply uncertainty caused by sanctions on Rusal, four sources directly involved in the pricing talks said.

That is up from the $129 per tonne premium PREM-ALUM-JP in the current quarter, marking the third straight quarterly increase and the highest in more than three years. The final price is lower than the initial offers of $159 to $160 made by producers.

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.

Reporting by Yuka Obayashi; Editing by Christian Schmollinger

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