US domestic secondary aluminum scrap prices climbed this week as buyers returned to the market.
The weekly Davis Index for old sheet inched up by 0.3¢/lb to 67.3¢/lb delivered US consumer while old cast rose by a penny to 67.7¢/lb delivered. Secondary MLC slipped by 2¢/lb to 72¢/lb delivered. The Davis Index for painted siding (secondary) fell by 1.3¢/lb to 69.7¢/lb delivered. Meanwhile, high-grade turnings jumped by 2.5¢/lb to 67.2¢/lb delivered.
The official LME Aluminium cash price settled Wednesday at $2,516/mt ($1.14/lb), up by $84/mt from Jul 21.
The index for Twitch rose by 2¢/lb to 74.5¢/lb delivered with offers heard at 78.5¢/lb. Transactions for dry separations are being heard at around 72-73¢/lb while heavy media floated twitch ranges closer to 76-78¢/lb. The Davis Index for Zorba 95/2 domestic settled at 65.3¢/lb, up by 1.2¢/lb.
Sellers are now reporting better flows out of their yards. Buyers have begun bidding for scrap, with most repairs and maintenance done for the summer. However, recovery remains slow from the secondary alloys consumer side amid the ongoing semiconductor chip shortage. However, most participants expect things to normalize by mid to late August.