End-of-year buying binge boosts European secondary aluminum

Dec 27, 2005 | 09:00 AM | Josephine Mason

Secondary aluminum ingot prices in Europe raced higher last week as the Christmas holiday approached, propelled by an unusual amount of end-of-year buying by consumers and on rising scrap prices.

The rise in ingot prices brought some much-needed relief to producers, who were struggling with surging scrap prices and almost stagnant prices for their material until earlier this month.

"They're not very good margins, but at least we are able to survive," a source at a Spanish producer said. "A couple of months ago, margins were going down and down. Everybody reached a level where it wasn't possible to make a profit."....

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