Some Q3 Japan aluminium buyers agree to 30 pct hike

* Concerns about Russian supplies spur buyers to seal deals * Price hike is first since Q3 in 2008 TOKYO, June 5 (Reuters) - Some Japanese primary aluminium buyers have agreed to a hike of about 30 percent in term premiums for the third quarter as they rushed to clinch deals amid concerns over supplies from Russia, the No. 2 exporter of the metal. Japan's aluminium imports have been sinking since late last year as manufacturers, notably automakers, cut output as the country wallowed in its deepest postwar recession. But there are signs Japan is now beginning to emerge from the steep slump. Officials at some Japanese trading firms and end-users said they had agreed to a premium of $75 per tonne over the London Metal Exchange cash price, including insurance and freight costs, for the July to September quarter. They said fears that aluminium supplies may plunge in Russia, which accounted for about 20 percent of Japan's imports in 2008, spurred them to reach early agreements in the quarterly talks, which usually continue until the middle of the month. "It's now a case of getting the needed volume, rather than about pricing," an official at an end-user said. He said his firm had reached an agreement with the bulk of its main suppliers. "Less supplies from Russia will affect every firm, not just those who have a contract," he said. The Q2 term premium was largely agreed at $56-$58, traders said. The hike in premiums is the first since the third quarter of 2008 and represents a slightly sharper rise than the second quarter of last year when the premium rose by about 28 percent from the previous quarter. Japan annually buys about 1.9-2.0 million tonnes of primary aluminium. Australia is the top supplier. For details of Japan's aluminium imports and a breakdown of the top three sources in 2008, click: http://graphics.thomsonreuters.com/069/JP_ALIMPC0609.jpg Troubles at indebted Russian aluminium company United Company RUSAL, which has said it will cut output, were fanning fears in the Japanese industry. RUSAL, the world's largest aluminium producer, has unveiled plans to save $1.1 billion this year as it cuts aluminium output by 11 percent. [ID:nLL637986] Fears about sharply falling supplies from Russia have added to worries that there will not be enough supplies in a market that is described as already tight due to buying by China, Taiwan and South Korea. Some industry officials said they had reached an agreement for a small volume of aluminium at a premium of $65-$69 at the start of talks last week, but an official with a second company said that the offer was only made by one supplier. "I think there might be a range in the premium, and if there is one I think it will be $75 and above," the official with a trading firm said. He added that his firm was still holding talks. "I'm afraid we won't see the volumes we want from Russia," he said. Japanese end-users, which have worked to use up swollen stocks rather than buy fresh supplies, are also beginning to make purchases again, although they said it was still premature to say that demand has recovered.