Outright prices for European aluminium scrap grades and 226 ingot typically track the automotive sector since they are primarily consumed for automotive production. Aluminium scrap grades are used in the production of 226 ingot, the latter of which is smelted for car parts.
A downturn in European automotive production and export has manifested in price suppression across all secondary aluminium grades on May 17 with all grades hitting a 10-year low respectively.
Fastmarkets assessed the price for European aluminium scrap floated frag at €990-1040 ($1,104-1,160) per tonne on Friday, the lowest level since it was priced at €950-1000 per tonne in December 2009.
Similarly, Fastmarkets assessed the price for European cast...