Global aluminium billet premiums were unchanged but for a drop in Thailand, with spot demand battered due to the Covid-19 pandemic.
Europe begins third quarter negotiationsUS premium static in lifeless spot marketBrazil premium flat amid weak spot interestWeak demand sinks premium in ThailandQ3 negotiations in Europe start with offers around $280-300/t
Market participants throughout Europe have begun negotiating the premium for third-quarter supply.
Market conditions remain challenging due to the impact Covid-19 lockdowns have had on demand. Billet producers and sellers now must compete with supply held over from the second quarter and a weak downstream market.
Fastmarkets' weekly assessment of the
aluminium 6063 extrusion billet premium, ddp Italy (Brescia region) was $240-260 per tonne, unchanged since April 9.
"Most of the guys pushed their Q2 volumes to Q3, and Q3 volumes have been reduced," a trader said.
In some cases, extruders are going month to month or locking in what they are sure they can take.
"There is a threat of a second wave of...