GLOBAL ALUMINIUM BILLET WRAP: Weak fundamentals pressure global spot premiums; participants await Rusal developments

Global aluminium billet premiums were flat or lower on Friday January 18, with market participants citing ample availability of material and lackluster demand as the main reasons behind the moves.

At the same time, participants were said to be holding back from concluding deals while they await further developments regarding the US sanctions against Russian producer UC Rusal. Premiums in Southern Europe edge lower amid high availability of metal. Brazil billet premiums unchanged in a quiet market. US upcharge flat with participants sidelined while they await Rusal developments. Asia premiums flat with little liquidity in market. Billet premiums in Italy, Spain drop amid more supply in both regions Aluminium billet premiums were lower in Spain and Italy, with increased availability of material and competitively lower offers pressuring the market. Fastmarkets assessed the premium for aluminium billet in Italy delivered duty-paid with 60-day payment terms at $490-530 per tonne on January 18, narrowing downward from $490-540 per tonne a week earlier. Although the premium has been ticking lower since November last year, it still remains relatively high in comparison to the...

Published

Justin Yang

Alice Mason

Michael Roh

Renato Rostás

January 21, 2019

02:53 GMT

New York, London, Sao Paulo