European secondary aluminium ingot price retreats from five-year high on reduced Asian buying

The price range for secondary aluminium ingot across Europe declined by just over 2% at the midpoint on Friday January 22, the downturn coming after market participants reported a dip in purchasing appetite from Asian buyers ahead of China's Lunar New Year holiday next month.

Fastmarkets' assessment of the aluminium pressure diecasting ingot DIN226/A380, delivered Europe, fell to ?,?1,940-2,000 ($2,361-2,434) per tonne on Friday, down from last week's range of ?,?1,980-2,050 per tonne.
The decline came after the price spiked by more than 20% from ?,?1,540-1,600 per tonne on November 13, peaking at ?,?1,980-2,050 per tonne on January 15. This was its highest level since June 2015.

Those dealing in both scrap and...

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