European secondary aluminium supply in the short term is highly uncertain following Oetinger's request to begin insolvency proceedings in Germany, with the future of hundreds of thousands of tonnes of annual capacity in doubt.
Europe's largest foundry aluminium producer went into administration on June 26, and though few people expect the German government to allow such a large company to fail, it is not known how long the administration proceedings will take, leaving Oetinger unable to take on fresh orders in the meantime. Oetinger is one of our biggest suppliers, and we had to buy some quantities to be sure we had the material for our production,â? a diecaster said. We don't know anything about the future, or what will happen. This uncertainty could lead to a large amount of demand falling elsewhere in...
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