Aluminium billet premiums across the globe were at multi-year or all-time highs on Friday April 9 due to supply tightness, logistics issues and firm demand.
Europe
Billet premiums in Europe continue to rise, with sellers increasing their offers and supply exceptionally tight.
Fastmarkets assessed the
aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $750-800 per tonne on Friday, up from $730-790 per tonne one week earlier.
The premium has soared since the start of 2021, when it was at $340-380 per tonne.
The majority of producers told Fastmarkets that they were sold out of spot tonnages, with limited spot material being offered in Europe close to $850 per tonne.
The bulk of liquidity for billet is for third-quarter business, with some consumers even looking to secure fourth-quarter tonnage.
"I'm getting inquiries for Q4 and 2022. Our main customers are going to work during summer - they will have full shifts running," a producer said.
High freight rates and logistics problems continue to plague European consumers, with imports not arriving in Europe.
Fastmarkets'...