The premium for aluminium billet in Italy has fallen to its lowest in over two years due to aggressively low offers from suppliers and continued poor demand.
Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp Italy (Brescia region), at $330-350 per tonne on Friday July 19, down from $340-360 per tonne the previous week. This is lowest since January 20, 2017, when it was $330-340 per tonne. European billet oversupply and poor demand continue to be the primary drivers pushing the market down. "The Italian market is in trouble. Every week the premiums are falling further and there are no supportive factors," a producer said. "People must diversify and focus on selling in Europe in other areas. A few weeks ago, I could have sold...