According to two sources involved in quarterly pricing negotiations, the January-March raw aluminum premium proposed by major aluminum producers to Japanese buyers was raised from the initial $190-203 per ton to $210-225. Japan is one of the largest importers of aluminum in Asia, and the quarterly premium over the London Metal Exchange spot price is the pricing benchmark for the Asian region. The latest quarterly pricing negotiations between Japanese buyers and miners like Rio Tinto and South32 began in early December. The sources said negotiations usually end before the next quarter begins, but this one is expected to continue next month. The manufacturer's previous offer to Japanese buyers was a premium of $190-203 per ton, up 121% to 136% from the current quarter. One of the sources working for an aluminum producer said, “We had hoped to reach an agreement this month, but the gap between the seller and the buyer is still huge, and the negotiations may continue into the new year.” A second source working at an aluminum rolling mill said that despite weak demand in Japan, the spot premium had risen to around $160-170 per ton, adding that a rise in prices compared to the current quarter seemed inevitable.

According to two sources involved in quarterly pricing negotiations, the January-March raw aluminum premium proposed by major aluminum producers to Japanese buyers was raised from the initial $190-203 per ton to $210-225. Japan is one of the largest importers of aluminum in Asia, and the quarterly premium over the London Metal Exchange spot price is the pricing benchmark for the Asian region. The latest quarterly pricing negotiations between Japanese buyers and miners like Rio Tinto and South32 began in early December. The sources said negotiations usually end before the next quarter begins, but this one is expected to continue next month. The manufacturer's previous offer to Japanese buyers was a premium of $190-203 per ton, up 121% to 136% from the current quarter. One of the sources working for an aluminum producer said, “We had hoped to reach an agreement this month, but the gap between the seller and the buyer is still huge, and the negotiations may continue into the new year.” A second source working at an aluminum rolling mill said that despite weak demand in Japan, the spot premium had risen to around $160-170 per ton, adding that a rise in prices compared to the current quarter seemed inevitable.