--- title: "Global Aluminum Market Sounds the Alarm! Japanese Benchmark Aluminum Premium Surges Over $100 in a Single Quarter" type: "News" locale: "en" url: "https://longbridge.com/en/news/288103778.md" description: "According to reports, Rio Tinto quoted a third-quarter aluminum premium of $460 per tonne to Japanese customers, while South32 Limited quoted $480 per tonne. If accepted, this would be more than $100 higher than the agreed prices in the second quarter. The Japanese aluminum premium is regarded by the industry as a benchmark reflecting demand in East Asia. In 2025, approximately one-third of Japan's aluminum imports came from the Middle East" datetime: "2026-05-29T18:15:40.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288103778.md) - [en](https://longbridge.com/en/news/288103778.md) - [zh-HK](https://longbridge.com/zh-HK/news/288103778.md) --- # Global Aluminum Market Sounds the Alarm! Japanese Benchmark Aluminum Premium Surges Over $100 in a Single Quarter According to media reports, due to tightening global supply caused by conflicts in the Middle East, Rio Tinto plc and South32 Limited have submitted record-high third-quarter aluminum supply premium quotes to Japanese customers. Rio Tinto’s quote for refined aluminum premium (a spot surcharge added on top of the benchmark price) was $460 per tonne, while South32 Limited’s quote was $480 per tonne. Once accepted, these quotes would be more than $100 higher than the supply agreement prices reached by these mining giants in the second quarter. As a major aluminum importer in Asia, Japan’s aluminum premium (known as the “Japan Main Port Premium,” or MJP) is widely regarded by the industry as a benchmark reflecting demand in East Asia. Thanks to its smelters in Canada and Australia, Rio Tinto has become one of the largest suppliers of this key metal (widely used in automobile and home appliance manufacturing) to Japan. Since the outbreak of war involving Iran in late February, aluminum futures prices on the London market have risen by approximately 17%, as the near-closure of the Strait of Hormuz cut off supplies from a region accounting for about 9% of global production capacity. In 2025, approximately one-third of Japan's aluminum imports came from the Middle East. The U.S. Midwest aluminum premium has soared to historic highs, continuing the surge triggered by Trump’s earlier increase in aluminum tariffs. According to a previous article by Wall Street CN, affected by the blockade of the Strait of Hormuz, aluminum production in the Gulf region plummeted by 35% in April, with smelter raw material inventories facing exhaustion. Analysts warned that substantial supply shortages would concentrate and erupt in the next one to two months. LME aluminum prices are currently approaching four-year highs. JPMorgan predicts that the aluminum market will see its largest annual deficit since 2000 this year, with aluminum prices potentially soaring to $4,000 per tonne in the coming months. ### Related Stocks - [RIO.UK](https://longbridge.com/en/quote/RIO.UK.md) - [SOUHY.US](https://longbridge.com/en/quote/SOUHY.US.md) - [RIO.AU](https://longbridge.com/en/quote/RIO.AU.md) - [RIO.US](https://longbridge.com/en/quote/RIO.US.md) - [000612.CN](https://longbridge.com/en/quote/000612.CN.md) - [AA.US](https://longbridge.com/en/quote/AA.US.md) - [601677.CN](https://longbridge.com/en/quote/601677.CN.md) - [601388.CN](https://longbridge.com/en/quote/601388.CN.md) - [000933.CN](https://longbridge.com/en/quote/000933.CN.md) - [CENX.US](https://longbridge.com/en/quote/CENX.US.md) - [601600.CN](https://longbridge.com/en/quote/601600.CN.md) - [600219.CN](https://longbridge.com/en/quote/600219.CN.md) - [603876.CN](https://longbridge.com/en/quote/603876.CN.md) - [000807.CN](https://longbridge.com/en/quote/000807.CN.md) - [600888.CN](https://longbridge.com/en/quote/600888.CN.md) - [601702.CN](https://longbridge.com/en/quote/601702.CN.md) - [BHP.US](https://longbridge.com/en/quote/BHP.US.md) - [BHP.AU](https://longbridge.com/en/quote/BHP.AU.md) - [BHP.UK](https://longbridge.com/en/quote/BHP.UK.md) - [XME.US](https://longbridge.com/en/quote/XME.US.md) - [159871.CN](https://longbridge.com/en/quote/159871.CN.md) - [ICOP.US](https://longbridge.com/en/quote/ICOP.US.md) - [159876.CN](https://longbridge.com/en/quote/159876.CN.md) - [516650.CN](https://longbridge.com/en/quote/516650.CN.md) - [159608.CN](https://longbridge.com/en/quote/159608.CN.md) - [159881.CN](https://longbridge.com/en/quote/159881.CN.md) - [DBB.US](https://longbridge.com/en/quote/DBB.US.md) - [159880.CN](https://longbridge.com/en/quote/159880.CN.md) - [561330.CN](https://longbridge.com/en/quote/561330.CN.md) - [PICK.US](https://longbridge.com/en/quote/PICK.US.md) - [512400.CN](https://longbridge.com/en/quote/512400.CN.md) - [S32.AU](https://longbridge.com/en/quote/S32.AU.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [RTPPF.US](https://longbridge.com/en/quote/RTPPF.US.md) - [S32.UK](https://longbridge.com/en/quote/S32.UK.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) ## Related News & Research - [Rio Tinto Begins Commissioning Of $1.5 Bln AP60 Smelter Expansion In Quebec](https://longbridge.com/en/news/288132133.md) - [BlackRock sees merit in large scale mining M&A](https://longbridge.com/en/news/287711292.md) - [Electrical workers threaten strike at BHP iron ore port by end of June](https://longbridge.com/en/news/288004440.md) - [BHP's Port Hedland electrical workers to vote on work stoppage after six months of stalled talks](https://longbridge.com/en/news/287984356.md) - [METALS-Copper hits near two-week high, aluminium hovers around four-year peak](https://longbridge.com/en/news/287712928.md)