Rio offers Japan aluminum at higher premium in 3d qtr.

May 28, 2013 | 01:20 PM | Shivani Singh

Tags  Rio Tinto Alcan, aluminum, premium, Japanese premiums, Shivani Singh

SINGAPORE — Rio Tinto Alcan Inc.’s initial offer for third-quarter aluminum premiums in Japan is above second-quarter premiums, three trading sources told AMM sister publication Metal Bulletin.

The Montreal-based producer has offered aluminum at a premium of $254 per tonne over the London Metal Exchange cash price for delivery at main Japanese ports for July through September, said sources who received the offer.

The Japanese economy is showing signs of recovery, which was the primary reason Rio Tinto gave for the higher premium, a source said. A second trader said the company also cited strong premiums in other parts of the world.....

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