TOKYO, June 3 (Reuters) - Top aluminium producers have offered Japanese buyers a premium of $115-$120 a tonne for July-September primary metal shipments, up 10% to 14% from the current quarter, amid tighter supply, two sources involved in quarterly pricing talks said on Monday.
Japan is Asia’s biggest importer of the metal. The premiums it agrees to pay for primary metal shipments each quarter over the London Metal Exchange (LME) cash price set the benchmark for the region.
For the April-June quarter, Japanese buyers agreed to pay a premium of $105 per tonne PREM-ALUM-JP, up as much as 27% from the prior quarter, marking the first increase in three quarters.
The latest quarterly pricing negotiations began late last month between Japanese buyers and global smelters, including Rio Tinto Ltd and South32 Ltd, and are expected to continue until later this month. (Reporting by Yuka Obayashi; Editing by Tom Hogue)