Aluminium billet premiums in the United States and Europe rose to their highest levels since September 2019 on Friday November 20, while premiums in Brazil and Thailand maintained their stability.
US premium pushes higherTight supply raises premiums in Germany, ItalyBrazil premium steady in quiet spot marketThailand premium flat, trading thin.
US premium tightens upward
Fastmarkets assessed the
aluminium 6063 extrusion billet premium, delivered Midwest US, at $0.085-0.095 per lb on Friday, narrowing upward by 2.9% from $0.08-0.095 in the previous assessment on November 6.
The premium was now at its highest since it was assessed at $0.085-0.105 per lb on September 27, 2019.
Demand continued to push spot premiums upward in a tightly supplied market.
"Billet is tight. We have people asking for more and more billet," one producer said.
"Billet premiums have risen and I suspect they will continue to rise," a second producer added.
And an extruder said: "Our business is picking up."
But extruders were still having difficulty in securing labor to operate their plants. "Extruders tell...