The rates for US secondary aluminum alloys have held at the same level since last week as buyers shrugged off offers at a higher price from producers.
The weekly Davis Index for A380.1 were flat at 67¢/lb on Friday, with sellers, who were offering the grade at 68¢/lb remaining disappointed.
The Davis Index for A319.1 also remained at 74¢/lb, the same as last week, while A356.1 settled at the same level as last week at 87¢/lb. The Index for A360.1 was also unchanged at 84¢/lb while A413 and B390, remained at 83¢/lb and 86¢/lb, respectively.
Soft global demand has impacted the finished goods market and alloy producers are finding it hard to push—what many market participants believe to be fair pricing to remain profitable—to the 70¢/lb level for A380.1.
The three-month LME aluminum contract closed on Thursday at 77.15¢/lb, up slightly from 76.79/lb on Feb 7.