Forecasts and Latest on Premiums (June 28, 2023)

WHAT IS THE LATEST ON ALUMINUM PREMIUMS?

By HARBOR’s Pricing Unit

1. ALERT! – US BILLET. DEEP DEMAND CONTRACTION: US billet offshore imports plummet as extruders see deeper demand contraction (From June 22).

2. ALERT! – US SLAB. NO SPOT APPETITE: US spot slab market appetite null aligned with contracting demand, premiums seen plunging ahead (From June 23).

3. ALERT! – EUROPEAN P1020. GIVES IN: European P1020 premiums give in to bearish pressures after trading sideways since April (From June 22).

4. ALERT! – EUROPE PFA. MISPLACED OPTIMISM? European PFA consumers remain mostly optimistic, despite developing regional auto challenges (From June 27).

5. ALERT! – EUROPEAN BILLET. MORE WEAKNESS: European contractual and spot premiums weakness extend (From June 23).