Aluminium billet premiums were flat to lower on Friday July 5 amid weak demand, with the premium in Italy falling for a third straight week and the upcharge in the US Midwest making its first move in eight weeks.
Premium in Italy falls third week in a row US upcharge down in dull market Thai premium flat in oversupplied market Premium in Brazil down, demand weakAluminium billet premium in Italy continues to dip in quiet summer marketThe premium for aluminium billet in Italy fell for a third straight week on July 5, with the market quiet and the fundamentals remaining weak.Fastmarkets assessed the premium for aluminium 6063 extrusion billet ddp Italy Brescia region at $340-360 per tonne on Friday, down from $345-365 per tonne a week previously .The premium is trading around levels it last reached in April 2017."You'd be lucky to see if anyone wants metal on the spot market at the moment," one trader in Europe said.Market participants continue to hear about aggressively low but isolated deals and offers. There are also expectations premiums still have room to drop further in the coming weeks."Billet is still under pressure....