US premium climbs
- US premium up near nine-month high
- Italy, Germany premiums inch up
- Brazil premium up on gradual demand recovery
- Thailand premium holds in quiet conditions
Fastmarkets assessed the aluminium 6063 extrusion billet premium, delivered Midwest US
at $0.07-0.09 per lb on Friday, up from $0.06-0.09 per lb on July 17.
The premium is at its highest point since November 7, 2019, when it was $0.07-0.09 per lb.
Friday's assessment is also up 45% from the all-time low of $0.045-0.065 per lb, where it stood from March 27 to June 18. Disruptions stemming from the Covid-19 pandemic had severely eroded demand, dragging the premium down.
Sources told Fastmarkets that a billet premium below 7 cents is no longer reflective of the spot premium, with demand from the largest consuming sectors -building and construction and automotive - continuing to strengthen.
“I know if...