23 JANUARY 2012Platts
European aluminum alloy jumps on fresh demand, rising scrap costs
Edited by : AL CIRCLE
1 min read
Physical aluminium alloy prices jumped Eur30-40/mt ($39-52/mt) in Europe this week as fresh spot buying interest emerged in spite of concerns over future demand levels and the economic health of the eurozone.
Sentiment was cautiously optimistic at the Euroguss Fair in Nuremberg, Germany, which was attended by many players in the European secondary aluminium industry this week.
The price of 226 alloy was said to be rising daily this week as many buyers ended 2011 with extremely low stock levels on uncertainty over 2012 consumption levels, and have come back to the market seeking material for February and March delivery.
Physical 226 prices had been on a downtrend since the summer, falling some Eur200/mt between August and December 2011. Since the first week of trading in January, alloy prices have risen by Eur50/mt from Eur1,640-1,690/mt delivered Germany at the end of December 2011.
Sentiment was cautiously optimistic at the Euroguss Fair in Nuremberg, Germany, which was attended by many players in the European secondary aluminium industry this week.
The price of 226 alloy was said to be rising daily this week as many buyers ended 2011 with extremely low stock levels on uncertainty over 2012 consumption levels, and have come back to the market seeking material for February and March delivery.
Physical 226 prices had been on a downtrend since the summer, falling some Eur200/mt between August and December 2011. Since the first week of trading in January, alloy prices have risen by Eur50/mt from Eur1,640-1,690/mt delivered Germany at the end of December 2011.
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