The spreads for some US mill-grade aluminum scrap remained flat over the past week, as market participants sought direction amid economic and market uncertainty created by the COVID-19 virus.
The spread for mill-grade MLC was flat at 25.3¢/lb under the three-month LME aluminum contract on Tuesday. However, the Davis Index for the grade decreased by 4.6¢/lb to 44.9¢/lb delivered US consumer.
The spread for scrap 5052 solids remained unchanged at 11.4¢/lb while the index for the grade decreased to 55.8¢/lb delivered US consumer, from 64.4¢/lb delivered on March 17.
The weekly Davis Index for mill-grade painted siding decreased by 4.9¢/lb to 42.8¢/lb delivered US consumer while the spreads for the grade held at 27.4¢/lb, the same as last week.
The spread for Litho sheet scrap remained at 11.8¢/lb, with the index for the grade decreasing to 58.4¢/lb delivered US consumer from 63.0¢/lb delivered, on March 17.
The Davis Index for UBC dropped by 2.1¢/lb to 51.3¢/lb delivered US consumer, with the spreads for the grade narrowing from 24¢/lb on March 17 to 23.4¢/lb on Tuesday.
The three-month LME aluminum contract closed at $1,548/mt down by $100/mt from $1,648/mt on March 17.