Aluminium billet premiums in the United States, Europe and Asia rose on Friday December 18, with strong fundamentals supporting the increases.
Low stocks propel US premium higher European spot market tight; participants focused on Q2 negotiations Bullish Q1 MJP P1020 negotiations pull Thailand premium upUnited States
Fastmarkets assessed the
aluminium 6063 extrusion billet premium, delivered Midwest US at $0.09-0.10 per lb on Friday, up 5.6% from $0.085-0.095 per lb on November 20.
Participants say sellers have little material outside their contract business, and this has pushed their offers higher for spot sales.
"We don't have a lot more available," a trader said.
The Midwest P1020 premium underlying those sales continues to climb to replacement-cost levels.
"I suspect traders are looking for both...