US secondary aluminum alloys prices were rangebound for most grades on Friday except A319.1, which climbed by 2.4¢/lb on tight supply and rising automotive demand.
The weekly Davis Index for A380.1 increased by 0.4¢/lb to 86.1¢/lb delivered US consumer, while A360.1 rose by 0.6¢/lb to 90.3¢/lb delivered. The index for A413.1 ticked up by 1.1¢/lb to 90.8¢/lb delivered US consumer.
A319.1 took the biggest leap of all grades, with the index climbing by 2.4¢/lb, to 89.6¢/lb.
The three-month LME Aluminium contract closed on Friday at $1,823.50/mt, down by $19/mt from $1,842.50/mt on Oct 23.
Tight supply has helped to push secondary alloy prices higher over the week. The A319.1 grade has benefited from a tight A356.1 supply. However, with more clarification around the new scrap metal classifications into China, market participants expect the dormant Chinese capacity to return online in the first or second quarter of 2021, once again applying pressure to global secondary aluminum alloy prices.