Rio Tinto(US:RIO) Wen Hua Cai Jing·2025-10-17 07:03Group 1 - The quarterly pricing negotiations between Japanese aluminum buyers and global producers are unusually prolonged due to significant differences in opinions regarding the premium for primary aluminum for the October-December shipment period [1] - Japanese buyers have set a regional benchmark for premiums based on the London Metal Exchange (LME) spot price, but the ongoing negotiations have lasted several weeks after the quarter began, which is atypical [1] - Initial premium offers from producers ranged from $98 to $103 per ton, reflecting a decrease of 5% to 9% compared to the previous quarter [1] Group 2 - A producer later adjusted their offer from $103 to $97 per ton, but buyers rejected this, seeking a premium in the $80 range, citing current spot premiums in the low $70s [1] - A representative from a Japanese processing plant indicated that the $97 offer had expired and requested a new quote from producers, emphasizing weak demand and high inventory levels as reasons for their lower price expectations [1] - As of the end of September, aluminum inventories at Japan's three major ports reached 341,300 tons, an increase of 1.8% month-on-month [1] Group 3 - A producer's representative noted that rising premiums in the U.S. and Europe are expected to tighten supply in Asia, leading sellers to insist on higher price levels [2] - The negotiations are anticipated to continue until the end of the month [2]