Aluminium billet premiums inched up in the United States, Europe and Brazil on Friday July 31 due to stronger demand, while weak demand in Asia kept the Thailand billet premium unchanged.
US premium up near nine-month highItaly, Germany premiums inch upBrazil premium up on gradual demand recoveryThailand premium holds in quiet conditionsUS premium climbs
Fastmarkets assessed the
aluminium 6063 extrusion billet premium, delivered Midwest US at $0.07-0.09 per lb on Friday, up from $0.06-0.09 per lb on July 17.
The premium is at its highest point since November 7, 2019, when it was $0.07-0.09 per lb.
Friday's assessment is also up 45% from the all-time low of $0.045-0.065 per lb, where it stood from March 27 to June 18. Disruptions stemming from the Covid-19 pandemic had severely eroded demand, dragging the premium down.
Sources told Fastmarkets that a billet premium below 7 cents is no longer reflective of the spot premium, with demand from the largest consuming sectors -building and construction and automotive - continuing to strengthen.
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