27 NOVEMBER 2011Metal Bulletin
UK secondary aluminium prices flat as scrap dealers offer resistance
Edited by : AL CIRCLE
1 min read
UK secondary aluminium prices were unchanged on Wednesday, November 24 as scrap buyers found greater resistance to falling prices after movements in the exchange rate reopened other markets.
LM24 pressure diecasting ingot stayed at £1,500-1,550 ($2,338-2,415) per tonne, while LM6/LM25 gravity diecasting ingot continued to trade at £1,790-1,850. “There’s still a huge amount of negativity out there, but as far as the UK market is concerned no one’s panicking,” an ingot producer said. “One customer asked for an additional 100 tonnes on top of his regular volume, so there’s no reason why prices should go down now.” Business beyond contracted tonnages remains confined to very short-term deals, however, and several producers have been entirely inactive on the spot market this week.
LM24 pressure diecasting ingot stayed at £1,500-1,550 ($2,338-2,415) per tonne, while LM6/LM25 gravity diecasting ingot continued to trade at £1,790-1,850. “There’s still a huge amount of negativity out there, but as far as the UK market is concerned no one’s panicking,” an ingot producer said. “One customer asked for an additional 100 tonnes on top of his regular volume, so there’s no reason why prices should go down now.” Business beyond contracted tonnages remains confined to very short-term deals, however, and several producers have been entirely inactive on the spot market this week.
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