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Aluminum producers seek 42 percent hike in second quarter premium from Japan buyers: sources

Thursday, Mar 09, 2017

Three global aluminum producers have offered Japanese buyers a premium of $135 per ton for shipments in the April to June quarter, up 42 percent from the previous quarter, three sources directly involved in the pricing talks said on Wednesday.

The offer, if accepted, would mark the second quarterly increase in a row. The higher offer comes as premiums rise in the United States and Europe and Japanese inventories are falling amid solid local demand.

Japan is Asia's biggest importer of the metal and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region.

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