Reuters reported that Global producers of aluminium ingots are turning away yearly premiums in favour of quarterly pricing for 2013 term shipments to Asia to take advantage of spot premiums that scaled records this year. Traders said that Global producers required buyers in Asia to pay premiums or a surcharge to secure physical metal over the cash London Metal Exchange aluminium price based on the quarterly main Japan ports premium. The move will make the MJP premium, seen as the Asian benchmark and which typically reflects spot premiums, more important than previous years.

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