Secondary aluminium ingot prices are under pressure, with shut automotive plants reducing demand for metal, while the higher LME price is raising feedstock costs for ingots.
Purer grades of aluminium scrap, sold on a percentage of the LME, have gained strong support over the past few months from rocketing primary aluminium pricing.
The LME daily official three-month aluminium price
was at $2,429.50 on Thursday April 29, its highest since 2018.
“The LME is fired up,” a scrap merchant said, “Prices are increasing in every coming day.”
As a result, the price for HE9 has been pushed to the highest on Fastmarkets records. The aluminium scrap clean HE9 extrusions,...