Some Japanese aluminium buyers have reportedly agreed to pay a premium of $148 per tonne over the benchmark price for the shipments in the September quarter. Compared to the premium payment of $172 per tonne in the ongoing quarter, it is down by 14 per cent. The news came on Wednesday, June 29, after two sources involved in the pricing talks reported.
As per the calculation, the premium price for 3Q2022 has marked a downfall for the third consecutive quarter. In Q2 2022, ending in June, the price has recorded a quarterly drop of $5 per tonne or 2.8 per cent from $177 per tonne in 1Q2022.
The premium for 3Q2022 is also lower than the initial offers of $172-$177 made by some producers.
In the first quarter of the year, the premium of aluminium shipments to Japan had seen a significant fall of 20 per cent on the ease of local spot premiums and overseas prices, recording a first quarterly decline in six months.
Japan, being Asia's biggest importer of aluminium, sets the benchmark shipment price of the region for each quarter based on what it agrees to pay.
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