Aluminum Premiums Outlook Update (May 10, 2021)

1. US MW PREMIUM ALERT. FRESH NEW RECORD HIGHS: MW P1020 up at...  cent/lb, discounting re-emerges (From May 6).

2. US BILLET ALERT. MORE SUPPLY, LABOR ISSUES: Record US billet premiums attracting more offshore billet, while extruders suffer from manpower shortage (From May 7).

3. BRAZIL ALUMINUM ALERT. SIX-YEAR HIGH: Brazil’s spot CIF P1020 premium pulled higher by the rest of the world; spot billet premium upside seen ahead (From May 7).

4. EUROPE PFA ALERT. NEGATIVE IMPACT IS HERE: Semiconductor crisis finally hits European PFA demand (From May 4).

5. EUROPEAN P1020 ALERT. UPTREND SEES A PAUSE: European P1020 premiums hold ground at six-year highs (From May 7).

6. EUROPEAN BILLET UPDATE. SPOT PREMIUM RANGE UP: European spot billet consolidates above $... per mton (From May 6). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.