Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index premiums for P1020 and 6063 billet inched up over the past week amid scarce supply. 


The weekly Davis Index P1020 premium increased by 0.3¢/lb to 16.1¢/lb above the official LME cash settlement. The 6063 billet premium also inched up by 0.4¢/lb to 16.4¢/lb over the P1020 premium. 


Primary aluminum import from Canada, the largest provider of the metal to the US, has reduced owing to the quotas set by former US President Donald Trump. Participants expect aluminum imports from Canada to remain subdued until the issue on the quotas is resolved, putting further pressure on supply and therefore premiums.


Premiums may also continue rising due to the ongoing shortage of containers and higher inland freight costs, according to market participants.  


The official LME Aluminium cash price settled Monday at $2,154.50/mt (97.6¢/lb), up by $1/mt from Feb 22. 

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