EUROPEAN ALUMINIUM INGOT 226 SNAPSHOT: Dwindling scrap supply pushes price to 2.5-year high

Key data from Fastmarkets’ pricing session in Europe on Friday December 11.



Key drivers: 

European sellers reported strong export demand to Asia as the key tailwind for higher offers for 226 ingots, with some indicating that Asian buyers are increasing offers by €100 ($121) per day.  Aluminium scrap prices have increased amid tightening supply after many cargoes were delayed due to a shortage of containers in Asia.  Earlier this week, the aluminium ingot ADC 12 spot (MJP), cfr Japan price soared by more than 11% at the midpoint to $2,300-2,400 per tonne, with the shortage...

Published

Hassan Butt

December 11, 2020

17:21 GMT

London