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Aluminum billet premiums in North America have shown no sign of slowing down on the back of solid demand and tightness in supply.
Spot premiums for 6063 extrusion billet are holding between 10.75 and 12.75 cents per pound, with most suppliers anticipating premiums will hit 13 cents before long.
"Premiums are definitely going up," one billet producer told AMM, noting that he had just quoted a deal at 13 cents per pound. "It's definitely heading towards 13 (cents)."
A second producer agreed. "With regards to premiums, clearly the short-term spot premium is up," he added.
Strong demand from truck-trailer, automotive and distribution industries have kept premiums on their upward path, market players said.