European 226 aluminium ingot market buoyed by strong demand amid Italy coronavirus jitters

The price of European aluminium ingot 226 continued to climb on Friday February 28 due to strong domestic demand amid concerns that the spread of the novel coronavirus (2019-nCoV) in Italy could hamper production in the region, leaving a tight market with inadequate supply.

Fastmarkets assessed the price of aluminium diecasting ingot DIN226/A380, delivered Europe at €1,420-1,480 ($1,566-1,633) per tonne on Friday, up from €1,400-1,460 per tonne the previous week.
The market for aluminium ingot 226 continues to strengthen in the first quarter of 2020 after falling by approximately 20% over the course of 2019 – from a year high of €1,560-1,610 per tonne on January 25, 2019, to a year low of €1,260-1,290 per tonne on October 11.
The European secondary aluminium market remains buoyed by domestic demand for 226 ingots while the global spread of coronavirus has dampened previously high export volumes to China. Large parts of the country remain under quarantine orders, keeping logistical operations subdued.

Chinese demand for European secondary aluminium was strong at the onset of 2020 after the China Solid Waste and Chemical management Bureau declared a 275,465-tonne...

Published

Amy Hinton

March 02, 2020

14:50 GMT

London