The weekly Davis Index for A380.1 rose by 0.5¢/lb to $1.15/lb delivered US consumer on strong domestic and export demand.
Orders from diecasters are decelerating as the semiconductor shortage, which has seen many carmakers reducing their output, begins to weigh on demand from the automotive sector. Still, robust demand from the home appliances industry such as lawn, garden, and hardware is offsetting the difficulties from the auto sector. The export market for secondary ingots is active with many countries restricting low-grade scrap imports in favor of semi-finished products.
Scrap prices for cast and twitch increased over the past week, raising the input costs. Besides, silicon prices have also driven prices higher this month, according to market participants.
The Davis Index for 356.1 rose by 0.8¢/lb to $1.128/lb delivered US consumer and increased for 319.1 by 1.8¢/lb to $1.185/lb delivered. A360.1 inched up by 0.5¢/lb to $1.20/lb delivered while A413.1 settled at $1.205/lb, up by 1.3¢/lb.
The official LME Aluminium cash price settled Monday at $2,260.50/mt($1.02/lb), up by $72/mt from Mar 19.