Tokyo's Aluminium Premium Surges

In a recent development, some Japanese aluminium buyers have agreed to a significant premium increase, setting a new benchmark for the regional market. The agreed premium stands at $228 per metric ton over the benchmark price for shipments from January to March, marking a 30% rise compared to the previous quarter, according to two sources directly involved in the negotiations.

This marks the fourth consecutive quarterly increase, surpassing the $175 per ton paid in the quarter from October to December. Japan, being a major Asian importer of the light metal, plays a crucial role in determining the premiums for primary metal shipments, which in turn set the standard for the region.