December 27, 2016 / 9:56 AM / a year ago

Japan Q1 aluminium premium set at $95/T, up 27 pct from Q4 - sources

TOKYO, Dec 27 (Reuters) - Japan’s aluminium premium for shipments during the January to March quarter of 2017 was set at $95 per tonne, as spot premiums rose following a disruption at an Australian smelter, six sources directly involved in the quarterly pricing talks said.

The deal, which marks a 27 percent increase from the $75 a tonne premium PREM-ALUM-JP in the previous quarter, is the first quarterly increase in three.

Japan is Asia’s biggest importer of aluminium and the surcharges, or premiums, which consumers pay on top of the London Metal Exchange cash price for primary metal shipments, set the benchmark for the region.

Reporting by Yuka Obayashi; Editing by Christian Schmollinger

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