Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Aluminum Smelter Said to Offer Japanese Buyers 6.3% Fee Increase

Don't Miss Out —
Follow us on:

Feb. 26 (Bloomberg) -- One global aluminum smelting company asked two buyers in Japan, Asia’s biggest importer, for a 6.3 percent increase in the premium they pay over London Metal Exchange prices, three executives directly involved in the negotiations said.

The company offered to sell aluminum at $255 a metric ton over the LME cash price for the three months through June, said the executives, who asked not to be named because the talks are private. They asked that the companies involved not be identified. Other producers have yet to make offers, they said.

The proposal would be the first fee increase in two quarters and coincides with efforts by Japanese Prime Minister Shinzo Abe to end deflation in the world’s third-largest economy.

The negotiations may be settled by the middle of March, the executives said.

Aluminum for delivery in three months on the LME climbed to a five-month high of $2,186 a ton on Feb. 21. It was little changed at $2,037.50 at 10:55 a.m. in Tokyo.

To contact the reporter on this story: Aya Takada in Tokyo at atakada2@bloomberg.net

To contact the editor responsible for this story: Brett Miller at bmiller30@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.