US secondary aluminum alloy prices pushed higher over the short week for most grades on continued strong automotive demand globally and pressure from higher raw material cost.
The weekly Davis Index for A380.1 moved up by 1.7¢/lb to 93.5¢/lb delivered US consumer, while A360.1 increased by 0.2¢/lb to 95¢/lb delivered.
The index for A413.1 was flat at 96.2¢/lb, delivered US consumers and A319.1 ticked higher by 0.1¢/lb to 94.9¢/lb delivered.
The three-month LME Aluminium contract closed on Wednesday at $1,981.50/mt, down from $1,995.5/mt on Friday, November 20. The Davis Index will be closed Nov 26-27 for the US Thanksgiving holiday.
Raw material cost and finished alloy prices continue to rise and fall in tandem with both gaining ground in a week, only to lose in the next. Each market cites the other as the reason for its volatile movements.