Global aluminium billet premiums were mostly flat on Friday June 7 due to a lack of spot business, but the premium in Spain fell to its lowest since August 2017.
Global aluminium billet premiums were mostly flat on Friday June 7 due to a lack of spot business, but the premium in Spain fell to its lowest since August 2017. Billet premiums in Germany, Italy stable Limited spot activity in US Argentinian material offered at $500 per tonne in Brazil Premium in Thailand unchanged'Aggressive' buyers push Spanish premium lower The premium for billet in Spain, delivered duty-paid with 60-day payments, declined to $350-360 per tonne on Friday from $360-380 per tonne two weeks prior.The premium is down 38% since the start of the year. Deals were reported to Fastmarkets at $350 per tonne. Most market participants agreed that above $360 per tonne was no longer possible.While aggressively low offers were heard for third-quarter negotiations, some consumers were bidding as low as $310/t for lower-quality brands."It is an aggressive market in Spain, especially for the next quarter. Some people are able to...