Buyers to pay aluminium premium of US$127.50

Price setter: Aluminium ingots are seen outside a warehouse in Port Klang Free Zone in Malaysia. The premiums for primary shipments that Japan agrees to pay each quarter over the LME cash price set the benchmark for the region. — Reuters

TOKYO: The premium for aluminium shipments to Japanese buyers for July to September was set at US$127.50 (RM575.60) per tonne, near the previous quarter’s levels, as local demand remained sluggish with ample stocks, five sources directly involved in pricing talks say.

The figure is the middle of the US$125-US$130 (RM575-RM587) per tonne range in the April-June quarter, but lower than the initial offers of US$165-US$180 (RM745-RM812) per tonne made by producers.