Commodity News
HeadLine : ALUMINIUM BILLET WRAP: Brazil, Japan premiums slide; Europe, US hold
Date : Jan 20 2020
Aluminium billet premiums in Brazil and Japan ticked down on Friday January 17 due to weak demand, while premiums in Europe and the United States were steady on unchanged fundamentals. The premium in Brazil was dampened by sluggish demand, high inventories for buyers and ample supply from long-term contracts and discounted offers. Billet demand is usually coupled with construction data, and the latter got better during the second half of 2019. If construction remains strong, there is a possibility the spot market will revive, as contracted volumes would not be enough.  Aluminium 6063 & 6060 extrusion billet premium, cif Brazilian main ports were at $270-300 per tonne on Friday, down from $280-300 per tonne on January 3.

Source: Reuters
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