Aluminum Premiums Outlook Update (August 2, 2021)
1. UPDATE! – US MW PREMIUM & SLAB ALERT. PRODUCTION CUT IN AN ALREADY TIGHT MARKET: Rio Tinto cuts Kitimat’s production by... kmtpy (From July 27).
2. NORTH AMERICA PFA ALERT. PFA SUPPLY SQUEEZE: Kitimat strike also disrupting PFA North American supply (From July 26).
3. US WIRE ROD ALERT. STRONG AND WITH UPWARD PRESSURE: Spot EC rod premiums steady at multiyear highs; Deox market the strongest (From July 28).
4. EUROPEAN P1020 ALERT. FRESH SIX-YEAR HIGHS: Rotterdam premiums continue with their nonstop rise; offers as high as $... per mton (From July 30).
5. EUROPEAN BILLET UPDATE. CONSOLIDATING AT RECORD HIGHS: Sellers’ market conditions linger as Russia export tax is set to begin next week (From July 22). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.