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

Prices for US secondary aluminum scrap declined on Wednesday as the supply glut for some grades continued. 


The weekly Davis Index for Zorba fell by 2.2¢/lb to 66.3¢/lb delivered US consumer while Tweak was down a penny at 72¢/lb delivered. The index for Twitch also decreased by 2.3¢/lb to 76.7¢/lb delivered. An abundant supply of shredder scrap during high ferrous trades, paired with lower export demand continues to pull prices down. 


The Davis Index for Old Cast stood at 66¢/lb delivered US consumer, better by a cent, though Old Sheet fell by 2.2¢/lb to index at 63.8¢/lb delivered. 


The weekly Davis Index for high-grade turnings rose by 0.5¢/lb to 61.5¢/lb delivered and the 2000/7000 series turnings saw a much steeper increase to 57.4¢/lb delivered, up by 6.4¢/lb. 


The three-month LME Aluminium contract closed on Wednesday at $2,003.50/mt, up by $26/mt from $1,977/mt on Jan 20. 


High freight costs continue to be a concern among market participants and could be responsible for driving prices higher, despite better availability for some grades.

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