The weekly Davis Index for A380.1 moved up by 2.2¢/lb to $1.145/lb delivered US consumer on strong demand.
Production cuts in the automotive industry due to the semiconductor shortage, have not impacted the aluminum alloys market that continues to witness strong demand from its key consumer. The US automotive sector is facing a second wave of production cuts due to the semiconductor shortage with carmakers like Ford, Nissan, and Toyota suspending output at some of their facilities.
Rising input costs, especially for silicon, and higher freight have also put upward pressure on specialty grades where trades were heard at higher prices during the week.
The index for 356.1 increased by 0.5¢/lb to $1.21/lb delivered US consumer while 319.1 rose by 0.7¢/lb to $1.167/lb delivered. The weekly index for A360.1 settled at $1.195/lb delivered, up by a cent from last week. 413.1 prices jumped by 2.2¢/lb to $1.192/lb delivered.
The official LME Aluminium price settled Friday at $2,188/mt (99.2¢/lb), up by $49/mt from Mar 12.