The spreads for US mill-grade aluminum scrap tightened for some grades while others remained flat as market participants struggled to balance supply and demand.
The spread for mill-grade 1100 & 3003 clips tightened by 1.2¢/lb to 6.3¢/lb under the three-month LME aluminum contract on Tuesday. The weekly Davis Index for US mill-grade 1100 &3003 clips was flat at 61.9¢/lb delivered US consumer.
The spread for scrap 6063 narrowed to 5.8¢/lb under, from 7.3¢/lb, while the index for the grade decreased slightly to 63.1¢/lb delivered US consumer, from 63.5¢/lb, delivered on March 31.
The weekly spread for mill-grade painted siding was flat at 23.9¢/lb, while the index decreased from 46.3¢/lb to 45.4¢/lb.
The spread for Litho sheet scrap was flat at 10.3¢/lb under the LME contract, while the Davis Index for the grade decreased to 58.4¢/lb delivered US consumer on Tuesday, down from 59.1¢/lb delivered on March 31.
The three-month LME contract closed on Tuesday at $1,492/mt, down by $32/mt from $1,524/mt on March 31.