GLOBAL ALUMINIUM BILLET WRAP: Premiums in Spain, Brazil decline; Q2 demand weakening

Aluminium billet premiums around the globe remained under pressure on Friday March 13 due to dwindling second-quarter demand.

  • Eyes on logistical problems in Italy
  • Lower offers heard in Brazil
  • US premium holds at record low

Premium in Spain drops
Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp Spain at $280-300 per tonne on March 13, down by $10 per tonne from $290-310 per tonne a week earlier.
Liquidity was low in the market and demand was tempered over the past few days by the novel coronavirus (2019-nCoV) outbreak in Europe.
The majority of offers in the market were reduced to $300 per tonne or below, despite one deal earlier this week concluding around $307 per tonne.
“It is tough to do anything above $300 per tonne now. No-one is desperate for metal and no-one really cares,” a trader said.
Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp Italy (Brescia region) at $285-305 per tonne on March 13, unchanged since February 21.

But market participants are bracing...

Published

Alice Mason

Renato Rostás

Michael Roh

March 16, 2020

03:30 GMT

London, New York, Sao Paulo