The weekly Davis Index for A380.1 rose by a penny to $1.111/lb delivered US consumer amid low smelter inventories caused by shutdowns due to last week’s winter storms.
Input costs for secondary alloys soared after copper prices reached an 11-year high this week. Higher silicon prices also raised the cost of old cast scrap. Mexico remains an important buyer in the alloys market while domestic demand is stable.
The official LME cash price settled Friday at $2,202.50/mt (99.9¢/lb), up $67.50/mt from $2,135/mt on Feb 19.
The weekly Davis Index for A360.1 jumped by 3¢/lb to $1.177/mt delivered while 319.1 inched up by 0.3¢/lb to $1.14/lb delivered. The index for A413.1 increased by 1.5¢/lb to settle at $1.175/lb delivered US consumer.
However, the index for 356.1 slipped by 0.1¢/lb to $1.164/lb as diecasters faced weaker demand from the auto sector due to the semiconductor shortage.