European billet premiums rose due to high energy costs and soaring P1020 premiums.
Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp Italy (Brescia region)
at $1,500-1,550 per tonne on Friday, up from $1,470-1,540 per tonne the previous month.
While many billet consumers are well stocked and had settled long-term contract business before the new year, "those who are short on billet and need to buy will have to pay," one European trader said.
Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region)
at $1,500-1,550 per tonne on January 14, up by 2% from $1,470-1,520 per tonne one month prior.
"[High Rotterdam P1020 premiums] have also pushed up value-added products across the board, and while there are offers on primary [aluminium] available, there are a lot of bids coming in too," a second trader said.