ALUMINIUM BILLET WRAP: Spanish billet premium drops; offers from Argentina push up Brazilian premium

Aluminium billet premiums worldwide were mostly static on Friday April 12, although the premium in Brazil bucked the trend in moving to its highest level since June 15 of last year.

• Spanish premium drops below $400 per tonne • Brazilian market pushes higher on more offers • US spot market remains quiet • Asia quiet ahead of holidays Europe mostly quiet; Spain continues to fall The premium for billet in Spain, delivered duty-paid with 60-day payments, fell to $380-400 per tonne on Friday April 12 from $400-430 per tonne. This is its lowest level since March 2016, and it is down almost 20% since the start of 2019. “Spain has to keep moving lower, and there is a lot of material that you can get. I was even offered something at $360 [per tonne], but I don’t need it,” a trader said. Most market participants agreed that deals above $400 per tonne were no longer possible. One deal was concluded as low as $360 per tonne but this level was not seen as widely achievable in the market yet. “[A deal for] $360 [per tonne] is madness for...

Published

Ellie Wang

Alice Mason

Michael Roh

Renato Rostás

April 12, 2019

22:14 GMT

London, Sao Paulo, New York, Shanghai