Aluminum Premiums Outlook Update (October 5, 2020)
1. US MW PREMIUM ALERT. Fear of plummeting premiums and uncertainty related to the conditional exemption granted to Canada has prompted some traders to heavily discount metal and push the MW premium to a seven-month low. (From September 28).
2. US BILLET ALERT. Several supply and demand variables seem impacting current 2021 US billet contract negotiations (From September 28).
3. MJP PREMIUM ALERT. MJP spot at a one-year high; Q4 2020 at $... per mton (From September 29).
4. MEXICO P1020 ALERT. Mexico's P1020 spot crisis: Simply no units available (From October 2).
5. EUROPEAN P1020 ALERT. Spot premiums continue to increase amid strong demand, wide LME contangos, scrap tightness, and logistic costs (From September 30).
6. EUROPEAN BILLET UPDATE. Extruders to close Q1 contracts earlier than usual as premiums reach $320 per mton (From October 1). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.