UK secondary aluminium prices down again as Europe remains closed

May 16, 2012 | 10:57 AM |

UK secondary aluminium ingot and aluminium scrap prices fell on Wednesday May 16, as the turmoil in the Greek economy saw European markets stay shut to exporters. “There’s good demand in Europe still, but it’s just at terrible prices,” one producer said. “UK producers prefer to sell into the UK market where prices are better, but that has led to an oversupply of material in the UK.” The sterling was buying €1.254 on Wednesday, from €1.229 two weeks ago.  LM24 pressure diecasting ingot dipped to £1,440-1,480 ($2,313-2,377) per tonne from £1,440-1,490 previously, while LM6/LM25 gravity diecasting ingot fell to....

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