Global aluminum producers offer higher premiums on rising freight costs

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    TOKYO- Global aluminum producers have offered Japanese buyers premiums of $138-$140 per ton for January-March primary metal shipments, up 57 percent-59 percent from the current quarter, amid recovering demand, three sources directly involved in quarterly pricing talks said.

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

    For the October-December quarter, Japanese buyers agreed to pay a premium of $88 per ton, up 11 percent from the prior quarter.