Few spot billet deals; mating talks dominate

Sep 20, 2012 | 03:08 PM | Suzy Waite

Tags  aluminum billet, Rio Tinto Alcan, London Metal Exchange, mating season, Federal Reserve, aluminum premiums, aluminum prices, Suzy Waite

NEW YORK — Mating season in the aluminum billet market continued in haste this week as producers and consumers were locked up in back-to-back meetings discussing next year’s contracts. But few spot deals were closed as a result.

"We’re about 80-percent done for 2013," one producer told AMM, adding that he booked a spot deal for 740,000 pounds at 12.78 cents per pound for October delivery.

"We’re about 70-percent done," a second producer said, he hadn’t made any spot deals this week. "I would be very surprised if we’re not 100-percent done by the end of September."....

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