The weekly Davis Index for A380.1 inched up by 0.5¢/lb to $1.123/lb delivered US consumer on Friday amid robust automotive demand.
Market participants expect the uptrend in secondary alloys prices to continue in the near term despite raised costs from stronger copper and silicon prices and high freight rates. A dearth of LME Nasaac inventories and the resultant demand for smelter production alloys is also putting upward pressure on prices since the limited Nasaac stocks are of European-origin and subject to Sec 232 tariffs.
The weekly index for 356.1 settled at $1.205/lb delivered, up by 3¢/lb from last week while 319.1 ticked up by 0.3¢/lb to $1.16/lb delivered and A360.1 inched up by 0.2¢/lb to $1.185/lb delivered. However, A413.1 fell by 2¢/lb to $1.17/lb delivered.
The official LME Aluminium cash price settled Friday at $2,139/mt (97¢/lb), down by $46/mt from Mar 5.