scrap prices in Europe remained flat Oct. 4, despite falling in
the United Kingdom, as secondary aluminum producer margins
remained under pressure.
U.K. scrap prices have
fallen over the past two weeks as unfavorable exchange rate
movements, particularly Indias rupee and the U.S. dollar,
have rendered most non-European export markets
However, prices in
Europe remained stable as both supply and demand have
Ingot prices also were
stable at 1,780 to 1,840 ($2,422 to $2,503) per
tonne, with producers refusing deals below 1,800 ($2,450)
With good volumes
already booked for the fourth quarter, many producers are in a
position to turn business down. "Were fully booked for
the fourth quarter; volumes are good and stable," one producer
source said. "Theres no need to sell, so well only
sell above 1,800."
With no reduction in
scrap prices, producers have little choice but to hold out for
A version of this article was first published by AMM sister
publication Metal Bulletin.