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European secondary aluminium down as some producers refuse sales


European secondary aluminium ingot prices dipped on Friday May 25, though some producers are now refusing sales at such low prices.

“We’ve stopped selling because it is impossible at these prices,” a producer said.

DIN226 pressure diecasting ingot fell to €1,700-1,780 ($2,137-2,237) per tonne from €1,700-1,800 previously.

As in recent weeks, prices at the top of the range are available to sellers in the north of the continent, with lower prices found further south.

“There are lower prices in the south than we are willing to accept,” a second producer said. “We need better prices to reduce our losses.”

Demand is thin from European diecasters, who remain short-term buyers in the face of growing economic turmoil in Europe.

“Diecasters keep on buying hand-to-mouth,” a trader said. “They are complaining that their own orders are not so fantastic, and they are fearful of the upcoming summertime.”

Scrap prices remained stable on Friday, increasing the margin pressure on ingot producers that are already operating at a significant loss.

“If you look at the scrap prices, southern producers will not be able to survive for long at these levels,” the second producer said.

Jethro Wookey
Twitter: @jethrowookey_mb

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