The premium in Eastern Europe for silicon 7 aluminium wheels on a delivered duty-paid basis plummeted 9%, falling for the first time since February.
Fastmarkets assessed the Eastern European premium at $390-440 per tonne on Friday November 9 down from $430-480 per tonne, with deals heard as low as $385 per tonne.
“There are aggressively low offers in the market at the moment and it is weakening significantly. To get a good price for your foundry at the moment is very hard,” a trader said.
The premium in Germany for silicon 7 aluminium wheel alloys declined to $390-430 per tonne on Friday from $410-450 per tonne previously over London Metal Exchange cash prices delivered to the Ruhr region with...