12/13/2024
UK - SECONDARY ALUMINIUM MARKETS SUPPORTED BY TIGHT SCRAP AVAILABILITY
The UK markets for secondary aluminium scrap and ingot were barely changed in the week ended Wednesday December 11, with persistently tight availability of scrap supporting both raw material and ingot prices despite weak key trading.
Limited spot tonnages were traded over the week, and the markets are expected to be even quieter in the last week of trading before the Christmas and New Year holiday period, sources said.
It feels like trader are getting into the holiday season and customers are covered with the materials that they need for this year: market participants see everything stable while waiting for a direction for 2025.
Lower-grade scrap prices have been supported by weaker manufacturing output and, consequently, reduced waste products (arisings). Scrap exporters have noticed a pullback of buying interest for British scrap from Asian buyers this month, probably due to book-squaring (that is, settling all open transactions) ahead of the New Year.