Japan’s latest aluminium shipment premium for Q4 2024 is 1.7% down from the last offer

A recent update informs that Japanese buyers are offered a revised aluminium shipment premium for the December quarter, slightly lower than the earlier quotation for the same period but higher than the previous quarter. The news came after four people directly involved in pricing talks reported.

The latest negotiation has resulted in a 1.7 per cent decrease in aluminium shipment premium offered to Japan. Data reveals the premium is agreed at $175 per tonne, up by 1.7 per cent from $172 per tonne in Q3 2024.

However, compared to the shipment premium offered in August for the December quarter, the new price is 5.4 per cent down from $185 per tonne.

Supply chain constraint in Asia is still a major reason for the quarterly rise in Japan’s aluminium shipment premium. Aluminium ingot shipments are now mostly diverted to Europe and North America, where premiums are higher.

Shipment premiums offered to Japan every quarter set a benchmark for the rest of Asia as the former is a major importer of light metal among all other Asian countries.