Aluminum Premiums Outlook Update (November 2, 2020)

1. NORTH AMERICA PFA ALERT. Strong US auto market is supporting PFA demand and a rebound in offshore imports; 2021 PFA contract premiums flat y/y. (From October 27).

2. US SLAB ALERT. BULLISH MODE: US slab premiums jump on strong demand, supply constraints, and scrap tightness (From October 28).

3. MJP PREMIUM ALERT. MJP spot premium increases in a context of domestic tightness and a sustained recovery in demand (From October 28).

4. EUROPEAN P1020 ALERT. Ingot premiums in Spain and Portugal have strengthened as P1020 spot availability has tightened amid ongoing strike in the Port of Bilbao (From October 29).

5. EUROPE PFA ALERT. Strong auto production supporting Q4 foundry demand. Contract premium range for 2021 widens to... euros (From October 30).

6. EUROPEAN BILLET UPDATE. UP FURTHER: Q1 contractual premium floor rising further (From October 29). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.