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

The weekly Davis Index for P1020A and 6063 billet premiums delivered US Midwest moved down for P1020A and remained unchanged for 6063 billets.

 

The weekly Davis Index premium for P1020A dropped to 8.5¢/lb from 9.6¢/lb delivered US Midwest, under the three-month LME aluminum contract on Monday. The premium for 6063 billets was flat at 5.8¢/lb delivered US Midwest under the same LME aluminum contract.

 

Aluminum scrap remains tight, but the announcement of furloughs at some aluminum mills has left little demand for a premium for P1020A material. Demand for aluminum products will take some time to rebound, according to market participants, and with plenty of capacity for P1020A globally, it will be even longer before premiums bounce back.

 

The three-month LME aluminum contract closed on Monday at $1,476/mt down by $15/mt from $1,491/mt on May 11.

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