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Quarterly Japanese Aluminum Import Premium: Metals Price Assessments

What is the Quarterly Japanese Aluminum Import Premium?

Aluminum CIF Japan Forward Quarter Premium

Platts Japanese aluminum import premiums reflect the premiums charged over the London Metal Exchange cash contracts for standard ingot imported into Japan.

The quarterly premiums are negotiated between Japanese buyers and overseas suppliers before the start of every quarter. The Platts assessment reflects the negotiation results.

The assessment is for the most common P1020/P1020A ingot, sows and T-bars imported into Japan. Its chemical specification is minimum 99.7% aluminum, maximum 0.2% silicon, maximum 0.1% iron, maximum 0.03% zinc, maximum 0.04% gallium, and maximum 0.03% vanadium.

The quarterly assessment reflects quarterly import transactions for volumes greater than 500 mt/month.

The basis of the quarterly deals is CIF Japanese main ports of Yokohama, Nagoya or Osaka. Deals into basis CIF Fushiki Toyama and other minor ports can be normalized where appropriate based on prevailing port and other shipping conditions.

Timing follows calendar year. First quarter is January-March, rather than April-June as in the Japanese financial year.

Q1 premium assessment is for loading in January-March, rather than expected delivery time into Japan, which is one to three months after loading.

Platts reflects Q1 premiums agreed 30-days before the given quarter. The assessment does not take into account Q1 premiums agreed six-months or one-year before, for example.

Payment term is specified to be cash-against-documents, the most uniform payment term for Japanese aluminum imports. The Platts Japanese import premium assessments are available in these services.

How Platts assesses the Quarterly Japanese Aluminum Import Premium

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Platts contacts overseas producers, international traders, Japanese traders and Japanese consumers participating in the quarterly negotiations.

Platts remains in communication with the market participants from beginning to the end of the talks, reporting the first offers to the bids and the revised offers and the final settlements.

The Platts quarterly premiums are determined when majority of parties involved in the talks settle.

Platts cross checks the reported deals, offers and bids rigorously to ensure the values reflect the real market trends.

The assessed quarterly premiums may be a single number if all agree on the same number, or, as in the most cases, in a range.

Evolution of the Quarterly Japanese Aluminum Import Premium

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The quarterly and the spot premiums were both launched in 1994. The quarterly premiums have been used as reference prices among major market participants for over ten years.



In 2014, the Platts specification was modified to include Russian aluminum, which previously has been classified as 'non-western'.


Aluminum Price Assessment Methodology



How do I access the price of the Quarterly Japanese Aluminum Import Premium?

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