US premium tightens upward
- US premium pushes higher
- Tight supply raises premiums in Germany, Italy
- Brazil premium steady in quiet spot market
- Thailand premium flat, trading thin.
Fastmarkets assessed the aluminium 6063 extrusion billet premium, delivered Midwest US
, at $0.085-0.095 per lb on Friday, narrowing upward by 2.9% from $0.08-0.095 in the previous assessment on November 6.
The premium was now at its highest since it was assessed at $0.085-0.105 per lb on September 27, 2019.
Demand continued to push spot premiums upward in a tightly supplied market.
“Billet is tight. We have people asking for more and more billet,” one producer said.
“Billet premiums have risen and I suspect they will continue to rise,” a second producer added.
And an extruder said: “Our business is picking up.”
But extruders were still having difficulty in securing labor to operate their plants. “Extruders tell...