The macro-induced downtrend in primary and secondary aluminium prices is a temporary market set-up, according to bullish delegates at Fastmarkets' International Recycled Aluminium Conference in Hamburg on November 12-14.
"There is kind of a bearish sentiment that is related to global recessions, dips in the London Metal Exchange three-month aluminium price and Chinese scrap import news," Russian aluminium producer Rusal's head of marketing Jerome Lucaes told Fastmarkets.Aluminium scrap and ingot prices are currently hovering at 10-year lows. The downtrend in ingot prices, used primarily to be smelted for car parts, has been widely attributed to a downturn in demand from the automotive sector. European...