Spreads for US mill-grade aluminum extruder scrap were flat as spot market activity increased the range of price bids on Tuesday.
The Davis Index as well as the spread for 5052 solids remained unchanged at 66¢/lb and 12.2¢/lb under the three-month LME aluminum contract, respectively, on Tuesday. The index and spreads for mill-grade MLC also remained the same as last week at 49.7¢/lb and 28¢/lb, respectively.
The spreads for mill-grade painted siding were flat at 30¢/lb, while spot deals on the grade held at 49.1¢/lb. Similarly, the spread for Litho sheet scrap was unchanged at 14.1¢/lb with outright pricing for the grade flat at 65¢/lb on Tuesday.
The Davis Index for UBCs was down by half a penny to 52.4¢/lb, while the spread was flat at 25.9¢/lb.
Consumers are driving up spot activity as they look to increase their supplier base in the hope of procuring material needed to melt, in a weak supply environment.
The three-month LME aluminum contract closed down by $5/mt on Tuesday at $1,703/mt from $1,708/mt last week.