Billet premiums in Europe continue to rise, with sellers increasing their offers and supply exceptionally tight.
Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region)
at $750-800 per tonne on Friday, up from $730-790 per tonne one week earlier.
The premium has soared since the start of 2021, when it was at $340-380 per tonne.
The majority of producers told Fastmarkets that they were sold out of spot tonnages, with limited spot material being offered in Europe close to $850 per tonne.
The bulk of liquidity for billet is for third-quarter business, with some consumers even looking to secure fourth-quarter tonnage.
“I’m getting inquiries for Q4 and 2022. Our main customers are going to work during summer - they will have full shifts running,” a producer said.
High freight rates and logistics problems continue to plague European consumers, with imports not arriving in Europe.