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AL CIRCLE

Japan settles Q2 2024 aluminium shipment premiums at $145-148/t

EDITED BY : 1MINS READ

Japan aluminium premiums for the April-June quarter (Q2 2024) shipments are agreed upon at $145-148 per tonne, reported six sources directly involved in pricing talks.

Japan settles Q2 2024 aluminium shipment premiums at $145-148/t

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The figures are settled lower than the initial offerings of $145-155 per tonne but record a substantial growth of $61 to 64 per cent from $90 per tonne of premiums in the first quarter of the year.

The significant uptick in Q2 premiums could be attributed to demand dynamics and tight supplies of aluminium in the domestic market. Despite port inventories exceeding 300,000 tonnes, supply constraints are becoming increasingly evident.

In 2023, Japan’s aluminium imports were 26 per cent less year-on-year due to sluggish domestic demand, which has now led to supply constraints.

Japan’s agreed premiums for quarterly primary aluminium shipments over the benchmark price on the London Metal Exchange serve as the standard for the region since Japan is Asia’s largest importer of aluminium.

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