European aluminum billet contract volumes improve

Nov 27, 2012 | 11:13 AM | Jethro Wookey

Tags  aluminium billet, aluminium ingot, premiums, jethro wookey

LONDON — Aluminum billet contract volumes for the first quarter of next year improved last week, with producers reporting larger-tonnage deals than in previous weeks to customers that had earlier rejected similar offers as too high.

"Some customers came to us a few weeks ago and said our numbers were too high, but they’ve shopped around and realized the premiums are the same elsewhere," a producer source said.

A good number of deals were signed in November for the first quarter, he said, but those deals were for only a few hundred tonnes each. Last week, however, the producer signed contracts for several thousand tonnes over the first quarter at premiums ranging from $485 to $500 per tonne on a delivered basis. ....

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