October 1, 2018 / 9:08 AM / 14 days ago

Japan Q4 aluminium premiums set at $103/T, down 22 pct from Q3-source

TOKYO, Oct 1 (Reuters) - Premiums for Japanese aluminium shipments for October to December were set at $103 per tonne, down 22 percent from the previous quarter, on lower spot premiums in Asia amid ample supply, four sources directly involved in the pricing talks said.

The new premium compares with the $132 per tonne premium PREM-ALUM-JP in the July to September quarter and follows three quarters of rising premiums.

The final price came below the initial offers of $112 to $115 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 Nick Macfie)

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