Premiums for aluminium primary foundry alloy in Europe moved up Friday for the first time in two years ahead of 2021 negotiations for annual supply in the region.
Fastmarkets assessed the aluminium primary foundry alloy silicon 7 ingot premium, ddp Germany
and the aluminium primary foundry alloy silicon 7 ingot premium, ddp Eastern Europe
at $280-300 per tonne, with both up from $270-290 per tonne the month before.
Market participants say automotive manufacturing production has increased in recent weeks - up to 70-100% capacity - which is spurring interest in alloys. That interest has helped end a two-year decline in premiums for foundry alloy in Europe.
Sellers said they had sent initial offers for alloy at around $300-350 per tonne throughout Europe.
“The market is getting...