European aluminium scrap prices slip on LME falls
European aluminium scrap prices edged down on Friday May 3 after sharp falls in London Metal Exchange aluminium prices, and market participants expect greater falls next week should LME prices remain at depressed levels.
London(ScrapMonster): European aluminium scrap prices edged down on Friday May 3 after sharp falls in London Metal Exchange aluminium prices, and market participants expect greater falls next week should LME prices remain at depressed levels.
National holidays around the world this week – predominantly around May Day on Wednesday – have kept the market quiet and limited the effect of LME falls on scrap prices.
Mixed turnings fell to €1,200-1,280 ($1,576-1,682) per tonne from €1,230-1,300 previously, while cast dipped to €1,250-1,320 from €1,270-1,350.
Three-month aluminium on the LME settled at a low of $1,828/828.5 per tonne on Wednesday.
Courtesy : metalbulletin.com