Billet prices gain on pent-up optimism

Mar 10, 2014 | 03:44 PM | Michael Cowden

Tags  aluminum billet, billet, billet upcharge, building, constuction, transportation, aluminum, aluminum prices Michael Cowden

CHICAGO — Aluminum billet upcharges have increased on expectations of stronger demand in the spring and summer months, supply constraints and a continued tight scrap market, according to market sources.

AMM’s spot Midwest 6063 extrusion billet upcharges have risen to 13 to 13.5 cents per pound from 12 to 13 cents previously.

Market sources expressed optimism about sectors as diverse as building and ground and marine transportation, predicting that metal could become tight if strong demand persists into the second half of the year as anticipated.

Several market sources said they were banking on improved demand from the construction sector, especially in the Midwest and Northeast, where cold weather has hampered activity to date.....

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