RIO rio tinto limited

News: RIO Japan buyers agree to pay Q2 aluminium premium of $172/T -sources

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    TOKYO, April 7 (Reuters) - The premium for aluminium shipments to Japanese buyers for April to June was set at $172 a tonne, down 2.8% from the previous quarter, as weak demand in Japan and China outweighed fears of supply disruptions from Russia, five sources directly involved in pricing talks said.

    The figure is lower than the $177 per tonne paid in the January-March quarter and marks a second consecutive quarterly drop. It is also lower than initial offers of $195-$250 made by producers.

    Japan is Asia's biggest importer of the light metal and the premiums PREM-ALUM-JP for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price CMAL0 set the benchmark for the region.

 
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