UK aluminium scrap price stood at £1,200-1,250 per tonne this week, surpassing pre-COVID19 pandemic levels

According to a recent report, the United Kingdom’s secondary aluminium prices extended rise on Wednesday, August 26, as limited regional supply drove LM24 ingot prices above the levels seen before the COVID-19 pandemic.

The UK secondary aluminium market suffered considerably due to the COVID19 outbreak and the resulting industrial lockdown to contain the spread of the virus.

All related UK industry effectively ground to a halt in March when carmakers, the main consumer of secondary metal, shut their factories. Priced plunged along with the demand coming to a complete halt practically overnight.

Price of UK aluminium scrap, LM24 pressure diecasting ingot, was at £1,000-1,050 ($1,312-1,378) per tonne on March 25, after the first major European car manufacturers announced partial closures, according to the assessed data of Fastmarkets.

But the most recent weekly assessment of the price stood 19.5 per cent higher at £1,200-1,250 per tonne on August 26, surpassing the £1,190-1,230 per tonne pre-shutdown level.