European aluminum billet demand surprises producers
Feb 06, 2013 | 10:40 AM
| Jethro Wookey
Tags
aluminum,
billet,
premiums,
jethro wookey
LONDON — European aluminum billet premiums have strengthened slightly after producers were surprised by decent spot demand, although markets further upstream have suffered from very low spot market activity so far in 2013.
AMM sister publication Metal Bulletin’s spot premium range narrowed to $480 to $490 per tonne from $470 to $490 previously, and producers are already offering at above $500 per tonne as consumers come to market for short-term deliveries.
"There are some spot opportunities, with people getting orders and then having to come to us for metal," a producer source said. "Some are accepting the new levels, while others are saying there are lower offers. But we’re doing okay because we’re not chasing orders." ....
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