Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US secondary aluminum prices rose over the past week as supply tightened amid snow storms in several regions. Inclement weather has also sent freight costs higher and affected shipments. Freight costs on some routes have almost doubled to around 5¢/lb from 2-3¢/lb earlier, Davis Index understands. 


Snow and frigid temperatures in of some regions in the Midwest and Northeast has hit scrap flows and with China set to return to markets from its new year holiday, suppliers are now bullish. 


The weekly Davis Index for old cast rose to 66.6¢/lb delivered US consumer, up by 2.3¢/lb. The index for Old sheet increased by 2.5¢/lb to 65.8¢/lb delivered. 


Zorba 95/2 prices increased by 0.7¢/lb to 62¢/lb delivered as buyer inventories begin to decline. The index for Tweak rose by 0.5¢/lb to 72¢/lb delivered. Meanwhile, the index for Twitch dropped 1.2¢/lb to 76.5¢/lb as buyers moved to tweak and other shredder grades to average down the costs of higher twitch. 


The Davis Index for high-grade turnings climbed 0.5¢/lb to settle at 62.5¢/lb delivered US consumer. Mixed 2000/7000 series turnings rose by 3.7¢/lb to 60.7¢/lb delivered. 


The LME Aluminium cash price settled Wednesday at a new annual high of $2,070.5/mt (93.8¢/lb), up by $91/mt from $1979.5/mt on Feb 4.

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