Aluminium billet premiums inched higher in Germany, Spain and Brazil on Friday August 28 as demand in those countries improved, while premiums in the United States, Italy and Thailand were steady.
Some European premiums rise ahead of Q4 talks Several billet premiums in Europe rose on Friday, with demand starting to increase and sentiment turning slightly more bullish as a result.
The uptrend comes as market participants are returning to the market following the summer quiet period to negotiate fourth-quarter and 2021 supply. Spot activity has also picked up, with deals reported throughout Europe.
Fastmarkets assessed the
aluminium 6063 extrusion billet premium, ddp Germany (Ruhr region) at $260-300 per tonne on Friday, up from $260-290 per tonne the week before. This is the premium's highest since April 3.
"There is some optimism from customers on the demand side," a producer said. "Our customers and extruders are back, and they tell me there are solid quantities booked for September."
Participants also noted that a weak dollar compared with the euro has also boosted the nominal value of the dollar-denominated premium. Consumers...