Japan buyers agree to pay Q1 aluminium premiums of $85-$86/T -sources

TOKYO, Jan 31 (Reuters) - The premiums for aluminium shipments to Japanese buyers for January to March were set at $85-$86 a tonne, down 13%-14% from the previous quarter, reflecting slack demand and high stocks, six sources directly involved in pricing talks said.

The figures are lower than the $99 per tonne paid in the October-December quarter and mark a fifth consecutive quarterly decline and the lowest premium since the July-September quarter of 2020.

Japan is Asia's biggest importer of the light metal and the premiums <PREM-ALUM-JP> for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price set the benchmark for the region. (Reporting by Yuka Obayashi; Editing by Kirsten Donovan)