Buying binge lifts aluminum prices in Europe

Dec 05, 2005 | 10:15 AM | Josephine Mason

Secondary aluminum ingot and aluminum scrap prices surged in Europe last week as consumers, short of stocks as the end of the year approaches, raced to buy material for prompt delivery.

The recent gains in the London Metal Exchange aluminum alloy contract and tightening scrap supplies also helped push prices higher.

The price for DIN226 pressure die-casting ingot in Europe shot to 1,620 to 1,690 euros ($1,905 to $1,990) a tonne delivered, duty-paid, with Italian consumers paying the highest prices and German and French producers and traders selling at the lowest. (DIN 226 is the die-casting ingot that serves as a price benchmark for many in the European secondary aluminum industry, much as the A380.1 alloy does for the U.S. industry, though the two grades have slightly different specifications.)....

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