Weekly spreads for some US mill-grade aluminum scrap delivered US consumer narrowed on Tuesday, as buyers balanced their needs with a falling exchange market, supply concerns, and the fear of a lack of demand.
The Davis Index for mill-grade MLC decreased to 49.4¢/lb delivered while the spread for this grade narrowed to 25.3¢/lb, tighter by 0.7¢/lb, under the three-month LME aluminum contract on Tuesday.
The index for scrap 5052 decreased by 3.3¢ to 64.4¢/lb delivered and its spread was unchanged at 11.4¢/lb
The Davis Index for mill-grade painted siding declined by 3.4¢ to 47.3¢/lb delivered and the spread for this grade tightened by a penny to 27.4¢/lb. The index for Litho sheet scrap declined by 1.5¢ to 63¢/lb delivered and its spread narrowed to 11.8¢/lb, tighter from 12.2¢/lb.
The Davis Index for UBCs dropped by 2.1¢ to 51.3¢/lb delivered, with the spreads for the grade narrowing from 24¢/lb to 23.4¢/lb
The three-month LME aluminum contract closed at $1,643/mt down by $65/mt from $1,708/mt on March 10.