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UK secondary aluminium prices fell back on Wednesday June 12, with both scrap and ingot prices trading lower in the wake of falling London Metal Exchange aluminium prices.
Three-month aluminium settled at $1,881/881.5 per tonne on Wednesday, from $1,966.5/67.5 a week ago.
LM24 pressure diecasting ingot dipped to Pounds 1,500-1,550 ($2,337-2,415) per tonne from Pounds 1,520-1,560 previously, while LM6/LM25 gravity diecasting ingot reached Pounds 1,720-1,780 per tonne from Pounds 1,730-1,790.
But little spot business was reported to Metal Bulletin in the UK market, with many producers only producing for contracted tonnages, having shed surplus production capacity earlier in the year in response to vanishing margins.
"Most producers in the UK...