Aluminum Premiums Outlook Update (October 11, 2022)
1. ALERT! – LME PRICE & WORLD PREMIUMS. LME LAUNCHES DISCUSSION PAPER: LME looks to assess consumer appetite for Russian metal (From October 6).
2. US MW PREMIUM ALERT - from HARBOR’s Aluminum Pricing Unit. GAP DOWN BELOW... cent/lb: MW premium plunge continues as expected (From October 5).
3. ALERT! - US BILLET. BILLET DEMAND PLUNGE: US extrusion demand contracting... % y/y in some cases (From October 6).
4. MJP PREMIUM ALERT. TWO-YEAR LOW: MJP quarterly contractual and spot premiums continue weakening to new lows, as anticipated by HARBOR (From October 6).
5. EUROPEAN BILLET ALERT. DOWN TO $...: European spot billet premiums deteriorate to as low as $... per mton (From October 6). Regional billet premiums declines further, pushing down spot and contractual November premiums to as low as $... per mton. To see our full European Billet Market Intel and Premiums assessment, please subscribe to our specialized European Billet Intelligence Report.