by Anthony Halley

Rio Tinto hikes up aluminum price for Japanese buyers

Premiums set the price benchmark for the region

Rio Tinto jacks up aluminum price for Japanese buyers

Rio Tinto Alcan has requested a quarterly premium of $254 per tonne cash price over the July to September London Metal Exchange (LME) for aluminum shipments to Japan, Reuters reported Tuesday.

The requested price is up considerably from the $248 to $250 per tonne average premium of last quarter.

Japan imports more aluminum that any other Asian nation.

The premiums agreed between Japanese buyers and aluminum producers set the price benchmark for the region.

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