Prices for US secondary aluminum scrap moved by less than a penny across most grades on Wednesday.
The weekly Davis Index for old cast increased by 0.4¢/lb to 72.8¢/lb delivered US consumer while old sheet remained unchanged from last week at 71.6¢/lb delivered, up 0.1¢/lb.
The official LME Aluminium cash price settled Wednesday at $2,212.50/mt ($1/lb), down by $8/mt from Mar 24.
Secondary smelters are reporting historically healthy inventories on improved scrap flows, as the weather begins to warm up. As a result, trading has been sluggish this Trading has a little slow due to this. Still, some grades are tight and freight costs have gone up by around 30-40pc in the past few months. Market participants are considering this to be the peak of secondary pricing and expect a gradual correction over the coming weeks.
Zorba prices rebounded by a penny to 66.5¢/lb delivered US consumer while Tweak also inched up by 0.2¢/lb to 72.7¢/lb delivered. The weekly Davis Index for Twitch settled at 80.3¢/lb delivered, down by 0.2¢/lb.
The weekly index for high-grade turnings increased by 1.6¢/lb to 70.1¢/lb delivered. Meanwhile, mixed 2000/7000 series turnings fell by 1.2¢/lb to 63.5¢/lb delivered. Secondary MLC prices settled at 75.2¢/lb delivered, up by 1.2¢/lb.