Producers look to raise 2013 billet base price
Sep 27, 2012 | 05:19 PM
| Suzy Waite
Tags
London Metal Exchange,
aluminum,
billet,
Hydro,
Alcoa,
Rio Tinto Alcan,
Suzy Waite
NEW YORK — Producers are looking to raise aluminum billet base prices by 2 to 3 cents per pound for 2013, market participants told AMM.
Consumers are gradually coming around to the fact that both contract and spot premiums will experience an uptick next year, although consumers maintain that negotiations aren’t over yet.
"Everyone is in that 2- to 3-cent (range). ... But we’re not done yet. We’re going to work on it," one consumer told AMM.
"Some extruders are saying they will wait until November or December to sign a deal, but the majority are accepting the fact that billet is more expensive and (are) moving on with signed agreements," a producer added.....
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