Prices of US secondary aluminum alloys remained unchanged with all eyes on automotive restarts.
The weekly Davis Index for A380.1 remained at 67.5¢/lb delivered US consumer on Friday as did the index for 319.1 at 73.8¢/lb delivered US consumer.
The index for A360.1 dropped by two-tenths of a cent, to 81.7¢/lb, delivered US, and held for A413.1 at 83¢/lb delivered US.
The three-month LME aluminum contract closed at $1478/mt on Friday, down by $30/mt from $1,508/mt on April 24.
Sales of secondary aluminum alloys have fallen significantly after the automotive industry suspended operations due to COVID-19 related shutdowns. The increase in demand for medical products has helped alloy producers with customers in this field, but the demand from the medical field remains much smaller than the automotive industry before the shutdowns.
Market participants are also concerned about the disruption in the supply chain and how soon it could normalize given that the automotive sector has announced May 18 as a target reopening date. Tight supply remains a concern for the auto industry as well.