Prices of secondary aluminum smelter scrap delivered US decreased on Wednesday on low trading volumes.
The weekly Davis Index for 2000/7000 solids dropped to 34.8¢/lb delivered US smelters on Wednesday, from 36.6¢/lb delivered on April 15. The index for old sheet decreased by 1.5¢/lb to 32.8¢/lb delivered US and fell by 1.7¢/lb to 32.9¢/lb delivered US for old cast.
The Davis Index for secondary MLC was down by 1.4¢/lb to 35¢/lb delivered US. The index for painted siding also dropped by 1.2¢/lb, to 33.9¢/lb.
Shredder grades decreased slightly from the past week with tweak decreasing by 0.08¢/lb to 30.3¢/lb delivered, twitch dropping by 0.1¢/lb to 33.7¢/lb delivered, and zorba declining by 0.1¢/lb to 29.6¢/lb delivered.
Without demand from the automotive industry, secondary smelters have little in the way of downstream sales options because of which, pricing continues to wane despite weak scrap flows.
The official three-month LME aluminum contract closed at $1,502/mt on Wednesday, down by $6/mt from $1,508/mt on April 15.