07 OCTOBER 2011Metal Bulletin
Pressure finally tells on UK aluminium scrap prices
Edited by : AL CIRCLE
1 min read
UK aluminium scrap prices finally lost support and fell sharply on Wednesday, with all grades showing significant losses as the market succumbed to the continuing turmoil in European debt markets.
“Prices have been pretty horrendous this week and have fallen significantly from just a couple of weeks ago,” a buyer said.
The scrap market has been robust compared with others since fears of a double-dip recession resurfaced in recent months, giving up ground stubbornly and in increments even as secondary aluminium ingot prices fell more swiftly in the UK and continental Europe.
But that resistance ended this week, in both pure and commercial.
“Prices have been pretty horrendous this week and have fallen significantly from just a couple of weeks ago,” a buyer said.
The scrap market has been robust compared with others since fears of a double-dip recession resurfaced in recent months, giving up ground stubbornly and in increments even as secondary aluminium ingot prices fell more swiftly in the UK and continental Europe.
But that resistance ended this week, in both pure and commercial.
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