The weekly Davis Index for A380.1 inched up by 0.1¢/lb on Friday to $1.21/lb delivered US consumer following firm offers from sellers.
Tighter scrap availability has led to increased pricing this week, with consumers noticing a 1-2¢/lb increase in all input materials. Demand for 356.1 and 360.1 is very strong outside the automotive world, leading to big leaps in offers from sellers, who are struggling to keep up with demand.
The weekly index for A356.1 rose 1.8¢/lb to $1.445/lb delivered US consumer while the index for A413.1 moved to $1.424/lb delivered, climbing 1.1¢/lb, with the highest sales made at $1.45/lb. The index for A360.1 settled at $1.42/lb delivered, up by 1.3¢/lb from last week. The weekly index for 319.1 rose 0.5¢/lb to $1.297/lb delivered.
Producers continue to raise prices as silicon and magnesium become harder to procure. Besides, the prices of high-yield scrap like old cast, A356 wheels, and segregated clips have recently inclined. Production still lags market demand by a vast margin due to a lack of labor. Transport issues are consistently raising all-in costs. Some participants perceive a price bubble since movements have been upward since the beginning of this year.
The official LME Aluminium cash price settled Friday at $2,602.50/mt ($1.187/lb), down $16/mt from Aug 6.