This marks a significant 48 per cent increase from the previous quarter. The agreed premium surpasses the $88 per tonne paid in the October to December 2023 period and represents the second consecutive quarterly rise, reaching the highest level since the third quarter of 2018.
However, it falls below the initial offers of $138-$140 made by producers the previous month.
Japan, being Asia's largest importer of aluminium, sets the standard for the region with these premiums over the benchmark London Metal Exchange (LME) cash price for primary metal shipments each quarter.
