Producers are pushing to hold the line on US secondary aluminum alloys pricing as demand drops after the big three automotive manufacturers idled their North American operations.
The weekly Davis Index for A380.1 was marginally lower at 68.9¢/lb delivered US consumer on Friday, down from 69¢/lb delivered, while 319.1 decreased to 73.8¢/lb delivered from 74¢/lb delivered. The index for both A360.1 and A413.1 fell from 84¢/lb delivered US consumer, to 83.3¢/lb delivered for A360.1 and to 83.5¢/lb delivered for A413.1.
The three-month LME aluminum contract closed at $1,552/mt on Friday, down by $51/mt from $1,603/mt on March 20.
Producers of US secondary aluminum alloys continue to wrestle with balancing the weak demand from customers with lower supply after some smelters shut down operations altogether during the week.