Metal Bulletin’s LM24 pressure diecasting ingot price in the UK fell to £1,330-1,380 ($2,035-2,112) per tonne on Wednesday October 28, from £1,350-1,400 previously and down from £1,490-1,530 in June.
On the continent, DIN226 diecasting ingot prices stand at €1,630-1,740 ($1,798-1,920) per tonne, from the high for the year of €2,080-2,150 per tonne in May.
Aluminium scrap prices have also been falling precipitously for several months, in both the continental European and UK markets.
But this is not a case of the market being at the low ebb of a cyclical phase. Thanks to developments in the primary aluminium market, it is unlikely that prices will make any meaningful recovery in secondary aluminium, and are in fact likely to make further, substantial falls.
Scrap and secondary aluminium prices have always been influenced by primary aluminium prices, particularly high-grade scrap prices, as many remelters can use either scrap or primary aluminium in their furnaces....