The price of aluminium ingots in the United Kingdom fell to its lowest in three years in the week to Wednesday October 2 while aluminium scrap grades in the region continued to weaken.
Fastmarkets assessed the price of aluminium scrap and foundry LM24 gravity diecasting ingot, delivered consumer UK at ?1,200-1,240 ($FIGURE) per tonne on October 2, down from ?1,240-1,280 per tonne the previous week - a level it had held since June 26.Fastmarkets' assessment of the aluminium scrap LM6/LM25 gravity diecasting ingot, delivered consumer UK was ?1,530-1,580 per tonne on the same date, down from ?1,580-1,630 per tonne the previous week. A confluence of aggravating factors, which have built steadily over 2019, are now manifesting into unfavorable conditions in the UK secondary aluminium market, which is feeding increasingly bearish sentiment and...