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Aluminum Premiums Outlook Update (January 13, 2020)

Executive Summary

1. US MW PREMIUM ALERT. Return of full contango and higher LME prices push up MW premiums (From January 8).

2. EUROPEAN BILLET UPDATE. Spot premiums decline further in Germany, Poland, Spain, Portugal, and the UK. Some extruders are back in the spot market (From January 10).

3. MEXICO BILLET ALERT. Captive billet production in Mexico expands farther, imported billet volumes fall to fifteen-month lows (From January 7).

4. BRAZIL P1020 UPDATE. BRAZIL P1020 UPDATE. Six-month P1020 tariff free import quota extension was officially announced today (From January 10).

More details in full report.