Aluminum Premiums Outlook Update (May 6, 2022)

1. US MW P1020 ALERT. NEW RECORD HIGHS: MW premium gaps up to... cent/lb (From May 4).

2. US BILLET ALERT. BOUNCE: US spot billet upcharge widens to... c/lb (From May 3).

3. US PFA ALERT. SKYROCKETS: PFA spot upcharge gaps up to as high as... c/lb (From May 3).

4. EUROPEAN P1020 ALERT. NEW HIGHS BUT LOSING MOMENTUM: European P1020 premiums inch higher (From April 29).

5. EUROPE WIRE ROD ALERT. ANOTHER PREMIUM SPIKE: European EC rod premiums jump to $... per mton (From April 27).

6. EUROPEAN BILLET ALERT. NEGOTIATING: Q3 billet contract negotiations with the low end of the range likely to decline (From April 29). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.