US secondary aluminum alloys prices increased for all grades with improved demand and very limited supply putting alloy producers on the path to finish the year on a firm footing.
The weekly Davis Index for A380.1 moved up by3.6¢/lb to 99.4¢/lb delivered US consumer, while A360.1 increased by 0.7¢/lb to 98.9¢/lb delivered. The index for A413.1 ticked up by 0.9¢/lb to 98.7¢/lb, delivered US consumer, and A319.1 jumped by 1.5¢/lb to index at $1.004/lb.
The three-month LME Aluminium contract closed on Friday at $2,034.50/mt, down by $5.50/mt from $2,040/mt on Dec 4.
Some sales for January delivery have topped the $1/lb mark for A380.1, helping to keep the pressure of higher secondary scrap prices at bay for this week. With China looking for aluminum scrap but struggling to find willing shippers, the momentum lies in the smelters’ favor for the time being.