Aluminium billet premiums fell across Europe, the United States and Brazil on Friday May 10 due to continued poor demand for billet, forcing market participants to sell material at aggressively low levels.
Italy premium drops to February 2018 low Deals discounted in Brazil Limp demand pushes US upcharge down Asia premiums unchanged following holidaysItalian premium returns to pre-Rusal-sanctions levelThe premium for aluminium billet in Italy fell on Friday for the fourth straight pricing session, reaching its lowest since February 2018. Fastmarkets assessed the premium for Italian billet delivered duty-paid in the Brescia area with 60-day payment terms at $380-400 per tonne from $390-410 per tonne on May 3. The range in early January was $490-540. The premium is back to where it was in March 2018, before the United States government imposed sanctions on UC Rusal.The sanctions were levied the following month and caused the Italian billet premium to spike at $540-580 per tonne. Since then, it has fallen by about 30%.The sanctions were removed from the Russian producer in January."The Rusal shock [was] completely absorbed and now it is business as...