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The extent of the damage is also being examined, a spokesperson said.
“The European aluminum recycling value chain is facing a critical situation, which is vastly amplified by the recent doubling of US Section 232 tariffs to 50%,” European Aluminum stated.
The year-over-year decline was partly due to the significant drop in exports, however demand fell in all market segments, with the exception of foil, according to the Aluminum Association.
Join AMU experts Greg Wittbecker and Nicholas Bell on Thursday, September 25 at 11 a.m. ET
There are plenty of opportunities to make money in scrap
Three of the four cast houses are fully commissioned and are producing all 3000, 5000 and 6000 series ingots for industrial, can sheet and automotive sectors.
There’s a lot of news to keep track of, so we’re lending a hand with highlights from the past month and what they mean for you.
It's not too late to catch up on what potential scrap export bans could mean for the market.
Container freight rates keep sliding for a tenth straight week, with looming U.S. tariffs on Chinese vessels and rerouted Gulf shipments reshaping global trade costs.