Fastmarkets assessed the price for aluminium pressure diecasting ingot DIN226/A380 at €1,340-1,390 ($1,478-1,533) per tonne, down from €1,350-1,400 per tonne the previous week, a level it had held since August 2.
Participants cite weakening scrap prices, which hit a 10-year low on August 6, at a time when secondary aluminium demand is unprecedentedly low, as the cause of lower ingot prices.
And fresh inflows of diverted US scrap into Europe from China are just the latest blow to hit an already-weakened secondary aluminium market.
The market has been suffering from...
