The European aluminium secondary market has set a fresh 2018 low for the seventh straight week due to falling London Metal Exchange and scrap prices as well as increased availability.
Metal Bulletin's assessment of secondary aluminium 226 diecasting ingot prices fell to ?,?1,760-1,810 ($2,176-2,238) per tonne on Thursday March 29, down from ?,?1,790-1,840 per tonne on March 23. "It is a strange situation in the market, the prices are falling every day. This is real madness in the market," one European trader said. "At the beginning of last week I was able to easily to sell at ?,?1,790 per tonne, just a few days later it was impossible to sell above $1,750 per tonne," he added. Secondary aluminium 226 diecasting ingot prices were last at ?,?1,760-1,810 per tonne at the end of December 2017, before spiking up to a high of ?,?1,840-1,880 per...