Scrap shortages prompt sharp rise in Europe aluminium 226 ingot market price

The price of European aluminium ingot 226 hit its highest since August 2018 in the week to Friday December 4 after an ongoing shortage of scrap raw materials lead to offers, bids and deals at elevated levels, while market participants struggle to secure tonnages for the first quarter of 2021, Fastmarkets was told.

Fastmarkets assessed the price of aluminium diecasting ingot DIN226/A380, delivered Europe at ?,?1,650-1,700 ($1,999-2,060) per tonne on Friday, up from ?,?1,600-1,650 per tonne the week before and marking the highest weekly jump since September 25.
The continued shortage of raw material feedstock largely drove the move, with scrap processing capacity now said to be diminished against the reduced availability of European scrap grades, sources said.

Strong export demand to India, Southeast Asia and China also exacerbated the issue,...

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