The weekly Davis Index premiums for P1020 and 6063 billet were flat this past week.
Market participants believe that premiums will remain at the current levels despite the limited availability of the grades in warehouses.
The weekly Davis Index P1020 premium was flat at 15.2¢/lb above the official LME Aluminium cash settlement. The 6063 billet premium index also held at 15¢/lb over the P1020 premium.
The 6063 billet premium rose to its highest levels in more than two months in early February. It is expected to remain at this level until supply improves, which, according to market participants, could be as early as the spring.
The official LME Aluminium cash price settled Monday at $2,097/mt, up by $72/mt from $2,025/mt on Feb 8.