US aluminium billet premium hits new peak

The US aluminium billet premium soared on Friday July 16, supplanting the all-time high set in the previous assessment despite limited spot activity while market participants await the impact of the looming Russian export tax set to take effect next month.

Fastmarkets assessed the aluminium 6063 extrusion billet premium, delivered Midwest US at 21-25 cents per lb on July 16, up by 6.98% from 20-23 cents per lb previously.
Given thin spot activity, the record-high premium points to a severe lack of supply, according to sources. Extruders in need of billet have had to pay steep premiums to sellers who have very little material to sell outside their contract business.

The relative lack of spot transactions also has made it difficult for market participants to pin down the premium. Fastmarkets received inputs in a wide range, with the highest reported premium more than...

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