Aluminum Premiums Outlook Update (January 11, 2021)

1. US BILLET ALERT. WHY DO BILLET SPOT PREMIUMS KEEP RISING? US spot billet premiums at 20-month highs; more upside seen ahead (From January 7).

2. US PFA ALERT. DEMAND STRONG AND STABLE: Not much spot market activity seen yet (From January 5).

3. EUROPEAN P1020 ALERT. BULLISH TREND CONTINUES: European P1020 premiums rise further despite backwardation (From January 8).

4. EUROPEAN BILLET UPDATE. BULLISH PRESSURE RESUMES: Strong market appetite intact, premium rally continues (From January 8). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.