Metal Bulletin’s assessment of secondary aluminium 226 diecasting ingot prices climbed to €1,770-1,810 ($2,184-2,233) per tonne on Friday April 13, up from €1,740-1,790 per tonne on April 6.
“This has been the craziest week for decades, the craziest of my career. We have only offered the metal we really needed to and nobody can afford to do business below €1,770 per tonne,” a European trader said.
Aluminium markets across the board have been in turmoil since the US Department of the Treasury placed sanctions on Russian aluminium producer UC Rusal last week.
The sanctions have caused supply concerns, nervousness and a jump in LME prices to their highest in six years,...