Producers of US secondary aluminum alloys kept prices unchanged as the US economy braces for lower potential demand for aluminum.
The Davis Index for A380.1 held at 69¢/lb delivered US Midwest on Friday while A319.1 was unchanged at 74¢/lb. The index for both A360.1 and A413.1 was also unchanged at 84¢/lb delivered. The index for B390 was flat at 86.8¢/lb delivered.
The three-month LME aluminum contract closed on Friday at $1,685/mt, down by $23/mt from last $1,708/mt on March 6.
Market participants fear that the spread of the COVID-19 virus could hamper the supply chain and are preparing for a low demand and supply environment, though production in the US has not yet felt the impact of the virus.