Japanese aluminium premium for Q1'25 hits highest level since CY'15 amid tight raw material supply

Japanese aluminium buyers have agreed to a premium of $228/t over the LME benchmark price for Q1'25 shipments, marking a 30% increase from the current quarter. This is the highest premium since 2015, despite being lower than initial offers of $230-260/t. Ongoing negotiations are influenced by tight aluminium supply, China's tax changes, and reduced production from global producers.