The spreads for aluminum mill scrap delivered US mill widened across most grades, while prices for the material over the week increased. The three-month LME aluminum price hit its high point this week since the COVID-19 pandemic forced the market to its 2020 low of $1,459.5/mt in early April.

 

The spread for mill-grade 1100 & 3003 clips widened by 0.9¢/lb to 11.4¢/lb under the three-month LME aluminum contract on Tuesday while the weekly Davis Index for the grade increased by 1.9¢/lb to 58.8¢/lb delivered US consumer.

 

The spread for scrap 6063 tightened by 0.06¢/lb to 9.4¢/lb under the three-month LME aluminum contract, while the index for the grade increased by 1.7¢/lb to 57.8¢/lb delivered US consumer. The weekly spread for mill-grade MLC widened to 25.5¢/lb, down by two pennies, while the index for the material increase by 2.7¢/lb to 46.7¢/lb delivered US consumer.

 

The spread for Litho sheet scrap widened by 3¢/lb at 17¢/lb under the three-month LME aluminum contract while the Davis Index for the grade increased by 0.06¢/lb to 54.9¢/lb delivered US consumer on Tuesday.

 

The three-month LME contract closed on Tuesday at $1,529/mt, up by $16/mt from $1,513/mt on May 26. 

 

General Motors reverted to its three-shifts work schedule on June 1 for its truck manufacturing plants, amid increasing the demand for new aluminum products in the US.

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