Aluminium foundry alloy premiums continued their decline in Europe and held steady in the United States on Thursday May 7 on a lack of spot activity, even as automakers began to restart vehicle production in both regions.
End-user demand a concern in Europe
Although automakers have begun to restart in Europe, market participants said vehicle production remains too low to attract demand for foundry alloy.
Most automakers in Europe
scheduled plants to reopen in late April or early May. But market participants said automotive the restarts have yet to reach anything resembling full capacity, and major concerns persist about end-consumer demand.
"The automotive restarts have been slow," one trader in Europe said,...