Aluminium billet premiums in Europe and Brazil fell to new lows on Friday September 27, while spot market illiquidity in Asia and the United States left the premium in each of those regions unchanged.
European premiums fall to multi-year lowsBrazilian premium dampened by weak demandThai premium extends inactivity to nine monthsUS premium flat for eight weeks; contract talks ongoingPoor demand plagues European premiumsEuropean billet premiums declined further due to continued poor demand and oversupply in the market."Premiums are terrible for billet right now. Every week I say I won't go any lower, and the next week I've had to decline by another $10 or $20 per tonne," a European trader said.Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $320-340 per tonne on Friday, down from $330-350 per tonne the week before. The decrease puts the premium at its lowest since Fastmarkets began pricing the premium in 2012. Offers were heard in Germany as low as $290 per tonne, although no deals were reported below the range.Market participants expect the premium in Germany...