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Aluminum billet spot premiums have hit 13 cents per pound for the first time since August on the back of increasingly tight supply due to a number of planned and unplanned outages, as well as continued strong demand.
Spot premiums are in a range of 12 to 13 cents per pound, up from 12 to 12.75 cents last week, producer and trader sources told AMM.
Despite the higher premiums, a number of suppliers said they are still hesitant to make spot sales because their contract customers continue to request their full tonnages.
"We have very little spot capacity after fulfilling our contracted volume," one producer source said.
"We don't have much spot capacity, but we did sell a little (for) May...