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Marubeni Corporation, a major trading company in Japan, said premiums for Japanese aluminum buyers could remain above US$200/ton in 2025 due to tight supplies in Asia.

Due to rising European premiums, Japanese aluminum premiums reached US$175/ton this quarter, up by 1.7% from the previous three months, reflecting market concerns on aluminum supply and strong demand for aluminum in Japan.

In negotiations for January-March shipments, some Japanese buyers agreed to pay a premium of US$228 per ton over the benchmark price, the highest since 2015.

Marubeni expects aluminum premiums to remain at US$220-255/ton in the first three months of 2025 and US$200-$300/ton for the rest time of 2025. It also predicted the average aluminum price will reach US$3,000/ton by the end of 2025 due to tighter supply.