European billet premiums hit more record highs in the week ended October 22, with continued strong demand and concern about availability going into next year.
Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region)
, at $1,450-1,500 per tonne on Friday, up from $1,400-1,450 per tonne the week before.
The corresponding assessment of the aluminium 6063 extrusion billet premium, ddp Italy (Brescia region)
, also increased to $1,450-1,500 per tonne on Friday from $1,400-1,450 per tonne one week earlier.
Multiple deals were reported to Fastmarkets at the $1,500 per tonne level this week, with market participants noting that buyers wanted to secure their units before next year. Fastmarkets’ billet premiums have a three-month delivery window, so tonnages being booked for delivery in early January were included in the premium assessment.
“When you [import] billet, you don’t get them;...