Aluminium 6063 billet premiums climbed in Europe and Brazil on Friday July 30, while premiums in the United States and Asia were steady. Supply contract negotiations for 2022 have started, but high freight rates and a Russian export tax are likely to complicate talks.
Europe
Fastmarkets assessed the
aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,170-1,220 per tonne on Friday July 30, up by 1.7% from $1,150-1,200 per tonne the week before and by 16.56% from $1,000-1,050 per tonne at the start of July.
Fastmarkets' assessment of the
aluminium 6063 extrusion billet premium, ddp Italy (Brescia region) also increased to $1,170-1,220 per tonne on Friday from $1,150-1,200 per tonne the week before.
"There's still some upside and not much discounts in the market. Anyone who is selling below $1,200 [per tonne] is being bought up immediately," a trader in Europe said.
Expensive logistics costs are making it difficult to bring in billet from places such as East Asia and are thus keeping supply tight in Europe.
"We got some offers from [Asia], but all the shipping...