Reuters reported that most term premiums for primary aluminum shipments to Japan for January to March 2011 were agreed at USD 112 to USD 113 per tonne down from USD 116 to USD 118 agreed for the current quarter.
Traders said that the January to March premiums marked the lowest in Q6 and a fourth straight quarterly drop, reflecting an uncertain outlook for Japanese domestic demand for aluminum used in products ranging from computers to planes.
Some deals had already been agreed at USD 112 per tonne to USD 13 per tonne last week between Japanese buyers such as trading houses and aluminum mills and suppliers including mining giants such as BHP Billiton and Alcoa Inc. The premiums are over the London Metal Exchange cash price and include insurance and freight costs.
（Sourced from Reuters）
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