- Brazilian premium falls, but sentiment optimistic
- Japanese premium declines on slow demand
- European premiums flat in quiet conditions
- US premium stable at all-time low
The premium in Brazil was dampened by sluggish demand, high inventories for buyers and ample supply from long-term contracts and discounted offers.
Fastmarkets assessed the aluminium 6063 & 6060 extrusion billet premium, cif Brazilian main ports
at $270-300 per tonne on Friday, down from $280-300 per tonne on January 3.
Overall, participants were optimistic about consumption in 2020, but signs of recovery have yet to be seen, sources said.
“Billet demand is usually coupled with construction data, and the latter got better during the second half of 2019,” one trader source said. “If construction remains strong, there is a possibility the spot market will revive, as contracted volumes would not be enough.”
There were reports during the past two weeks of discounted offers to...