US aluminum billet premiums stay steady

Jan 11, 2013 | 04:18 PM | Suzy Waite

Tags  Aluminum, billet, Alcoa, ABI, premiums, automotive, construction, marine Suzy Waite

NEW YORK — Few spot deals for aluminum billet closed in the past week on a combination of seasonality and high consumer inventory levels.

Tepid activity kept spot premiums between 11 and 13 cents per pound, but few sources said they were concerned about the lackluster kickoff to 2013 as they expect the automotive and construction markets to keep producers and extruders busy this year.

"(Our consumers) are expecting 2013 to be at least as good as 2012," one producer source told AMM. "Automotive will be good; housing will be better. Things will come back. It’s all part of seasonality."

The slow start was typical, a second producer source said. "Automotive is strong and I have to think that’s going to drag everything along with it. And with construction, even a modest rebound is going to help the industry. I find people have short-term memories (and) forget what seasonality is." ....

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