Extruders have excess aluminum billet: sellers
Jan 04, 2013 | 03:25 PM
| Suzy Waite
Tags
Aluminum billet,
Alcoa,
ABI,
spot premiums,
Suzy Waite
NEW YORK — Aluminum billet consumers have started the new year with excess material on the floor after they purchased extra billet in 2012 in case labor contract talks at Alcoa Inc.’s Aluminerie de Becancour (ABI) smelter in Quebec turned sour.
Few 2013 spot deals have closed as a result, keeping premiums between 11 and 13 cents per pound.
"We ordered more than we would have otherwise in anticipation (of a strike or lockout at ABI). We usually try to get (inventory) down at the end of the year, but we stocked up for December, January and February," an extruder source told AMM. He estimated that he has between 20 and 40 percent more material than normal. ....
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