Italian premium widens; Europe liquidity remains high
The premium for 6063 series extrusion billet in northern Italy on a delivered duty-paid basis with 60-day payment terms
widened to $510-550 per tonne on Friday November 23 from $520-550 per tonne previously.
High prices in recent weeks have attracted billet of different origins to the market. Billet from South Korea and Egypt is on offer at around $500 per tonne while Russian units are available below Fastmarkets’ published range.
“Material from Asia is still being offered at low levels. If you are happy to accept certain origins then $500 is possible,” a billet consumer said.
Billet from Asia is on offer toward the low end of the range, several market participants agreed, while Rusal material was also reportedly available at increasingly low numbers.
“But if you want your top brands such as the Hydro material then you have to still pay the...