US aluminum scrap spreads for mill and extrusion grades varied over the past week in a stronger LME Aluminium market.
The weekly Davis Index spread for 1100 & 3003 clips widened by 1.4¢/lb on Tuesday to 12¢/lb under the Midwest transaction price. The grade’s outright price rose by 2.2¢/lb to $1.055/lb delivered US consumer.
Mill-grade MLC’s spread tightened by 0.9¢/lb to 34.5¢/lb under the Midwest transaction price while outright prices for Mill-grade MLC rose by 4.5¢/lb to 83¢/lb delivered US consumer.
The spread for 6063 new bare tightened by 0.9¢/lb to 8¢/lb under the Midwest transaction price while its outright price rose by 5.3¢/lb to $1.105/lb delivered.
Demand from mills and extruders has strengthened after the manufacturing and construction industries began picking up pace over the past few weeks. Still, freight costs have kept prices under pressure with traders paying higher rates for deliveries amid a shortage of drivers.
The official LME Aluminium cash price settled Tuesday at $2,174.50/mt (98.6¢/lb), up by $22/mt from Mar 9.