Both primary and secondary aluminium will be required to meet demand in a low-carbon economy, Russian producer UC Rusal's head of marketing, Jerome Lucaes, said at Fastmarkets' International Recycled Aluminium Conference in Hamburg on Wednesday November 13.
"The aluminium industry is like a beast with two legs - one leg is primary aluminium and the other leg is secondary," Lucaes said.
Secondary aluminium scrap prices have been hovering around a 10-year low amid unusually weak demand for material for use in the automotive sector.
Fastmarkets assessed the price of
aluminium pressure diecasting ingot, DIN226/A380, delivered Europe, at ?,?1,260-1,290 ($1,395-1,428) per tonne on November 15. This was down by 19.5% or ?,?310 per tonne at the midpoint of the range, from the year-to-date high of ?,?1,560-1,610 per tonne on January 28.
The reduced demand has...