Aluminum Premiums Outlook Update (February 8, 2022)

1. US BILLET ALERT. STILL TIGHT: US spot billet upcharge unchanged at all-time highs, unfulfilled spot market appetite lingers.

2. US WIRE ROD ALERT. ACCELERATING TREND: US EC rod offshore import.

3. EUROPEAN P1020 ALERT. PAUSE: P1020 premiums in Europe unchanged amid steep backwardation (From February 3).

4. EUROPE PFA ALERT. MORE UPSIDE? Spot PFA premiums unchanged, but offers jump to as high as $... per mton (From February 8).

5. EUROPEAN BILLET UPDATE. NEGOTIATING: Spot billet premium unchanged, Q2 contract negotiations on-going (From February 4). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.