The weekly Davis Index for A380.1 dropped by 0.3¢/lb on Friday to $1.202/lb delivered US consumer while offers this grade were heard as high as $1.25/lb as supply tightened.
Demand remains strong despite a few cancellations and rising LME Aluminium prices. A few aluminum alloys producers have also received inquiries from die casters who are looking to fulfill their volume requirements but are facing a dearth of raw material. With an optimistic outlook from the auto industry, aluminum alloys producers do not anticipate prices or demand to trend down in August and remain firm on their offers.
The index for A356.1 increased by 1¢/lb to $1.44/lb delivered US consumer while A413.1 remained unchanged at $1.41/lb delivered. The index for A360.1 climbed by 0.5¢/lb to $1.40/lb delivered and 319.1 increased by 2.5¢/lb to $1.30/lb delivered.
The official LME Aluminium cash price settled Friday at $2,624/mt ($1.19/lb), up $132/mt from Jul 23.