Strong demand and bullish negotiations for second-quarter business pushed aluminium billet premiums in Europe higher on Friday February 14, while other global premiums were unchanged.
Germany premium at highest since December 2019Weak demand in Thailand Premium remains at all-time low in USBuying interest thin in BrazilQ2 negotiations bullish in Europe
Fastmarkets assessed the
aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $300-320 per tonne on Friday, up from $290-310 per tonne on February 7 and its highest since December 13, 2019.
Market participants noted consumer demand for April and beyond is significantly higher and there is renewed bullish sentiment.
Producers said they were receiving bids as high as $320 per tonne, while a number of participants were concluding business above $300 per tonne.
"Germany is strong, and it will lead the way for the billet premiums. Buyers who did not want to touch a tonne in the first quarter are now ready to buy," a trader said.
The premium in Spain followed suit, with participants able to...