Impacted by the Middle East war, Japan's key aluminum price premium hits a record high

Golden Ten Data reported on May 29 that, according to informed traders, as Middle East conflicts lead to tighter global market supplies, Rio Tinto and South 32 have proposed third-quarter aluminum supply premiums to Japanese clients, reaching a record high. Rio Tinto’s premium for this refined metal is set at $460 per ton, while South 32 has quoted $480 per ton. If these offers are accepted, the premiums will be over $100 higher than the agreements reached in the second quarter between Japan and these two mining giants.