US primary aluminum premiums delivered US Midwest were flat this week as the US braces for potential supply chain disruptions and economic slowdowns due to the COVID-19 virus.
The weekly Davis Index premium for P1020a delivered US Midwest remained at 14.1¢/lb under the three-month LME aluminum contract on Monday, while the premium for 6063 billet del US remained flat at 7¢/lb under the same LME aluminum contract.
Premiums have held at current levels because the voluntary or government intervened social distancing has not impacted production yet, according to market participants.
The three-month LME aluminum contract closed on Monday at $1,681/mt down by $16/mt from $1,665/mt on March 9.