US secondary aluminum alloys prices were higher this week for all grades. Strong demand from the automotive sector set against a supply restriction has led to firm secondary alloy prices moving into the first part of the new year.
The weekly Davis Index for A380.1 moved up by 0.6¢/lb to $1.044/lb delivered US consumer.
Meanwhile, the index for A360.1 increased by 4.8¢/lb to $1.08/lb delivered with the index for A413.1 rising by 3.2¢/lb to $1.074/lb, delivered US consumer. A319.1 moved up by 3.3¢/lb to $1.085/lb delivered.
The three-month LME Aluminium contract closed on Friday at $1,980.50/mt, down by $51/mt from $2,008.50/mt on Dec 23.
Global demand for alloys began to soften this week since Japan has not resumed buying activity for ADC12. This trend has not made its way into the US domestic market as of yet, which is currently struggling with tight scrap supply during the winter season and the COVID-19 pandemic looming overhead.