Aluminum billet upcharges rise on input costs
Jan 24, 2014 | 03:30 PM
| Michael Cowden
CHICAGO Aluminum billet upcharges have increased due to higher scrap and ingot premiums as well as expectations of solid first-quarter demand, according to market sources.
"The scrap guys are squeezing at the same time that the ingot guys are squeezing, and the billet guys cannot take the hit," a source at one remelt billet producer and extruder said. "And if you get squeezed on the bottom, its going to push the price up at the top."AMMs spot P1020 premium jumped to 20.5 to 21 cents per pound Jan. 22 from 19 to 20 cents a week earlier and 11.5 to 12 cents at the beginning of this month. Some billet industry sources said they were now paying a Midwest premium of 21 to 21.5 cents per pound, although it was not immediately clear if those figures were representative....
AMMs spot Midwest 6063 extrusion billet upcharges have increased to 12 to 13 cents per pound from 11.5 to 12.5 cents previously.
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