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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