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Japan buyers agree to pay Q3 aluminium premium of $148/T -sources

·1 min read

TOKYO, July 4 (Reuters) - The premium for aluminium shipments to Japanese buyers for July to September was set at $148 a tonne, down 14% from the previous quarter, to reflect weak demand for automobiles amid a global chip shortage, five sources directly involved in pricing talks said.

The figure is lower than the $172 a tonne paid in the April-June quarter and marks a third consecutive quarterly drop. It is also below initial offers made by producers of $172-$177.

Japan is Asia's biggest importer of the light metal and the premiums for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price set the benchmark for the region. (Reporting by Yuka Obayashi; editing by Jason Neely)