Aluminum Premiums Outlook Update (January 26, 2022)

1. US PFA ALERT. WITH UPSIDE: PFA demand expected to gradually recover throughout the year amid tight supply (From January 18).

2. US SLAB ALERT. STRONG START: North American slab imports spike (From January 21).

3. BRAZIL ALUMINUM ALERT. EXPORT DRIVEN: Brazil’s billet exports growing to multiyear highs amid depressed domestic demand (From January 19).

4. EUROPEAN P1020 ALERT. ANOTHER SIX-YEAR HIGH: Europe P1020 premiums rise further amid a compilation of bullish factors (From January 20).

5. EUROPEAN BILLET UPDATE. SPOT JUMPS AGAIN: European spot billet premiums jump to as high as $... per mton. Q2 contractual tier billet premium differential widening (From January 21). To read our full European Billet Market Intel and Premiums assessment, please see our specialized European Billet Intelligence Report.