Aluminium prices are holding up strong, a month after they broke the £1,000/tonne barrier.
According to insider sources, material is being traded within a margin of £980 to £1,040/tonne and the price looks set to stay strong for the near future.
One insider said: “In the last three weeks aluminium prices on the London Metal Exchange started to soften a bit, so it means that aluminium prices came under some downward pressure. But UK prices tend to be very competitive. Our buying price did soften for a short while but it seems to have hardened more recently and demand for the material is still strong.”
Another recycler agreed that prices have firmed up more recently, following a drop caused by weakened LME prices which went from $2,755 (£1,700) per tonne at the beginning of May to $2,518 (1,558) per tonne this week.