US secondary aluminum alloys prices were relatively flat on Friday, with only small price adjustments because of low volumes.
The weekly Davis Index for A380.1 increased by 0.01¢/lb to 67.8¢/lb delivered US consumer on Friday and moved down by 0.01¢/lb to 74.2¢/lb delivered US for 319.1.
The index for A360.1 was flat at 82.3¢/lb, delivered US, and held for at 83¢/lb delivered for A413.1.
The three-month LME aluminum contract closed at $1,467/mt on Friday, down by $13/mt from $1,491/mt on May 11. The LME was closed on Friday, May 8, for a UK bank holiday.
Some of the price fluctuations over the past few weeks have been due to formula-based pricing based on LME aluminum movements than market supply and demand. Most alloy producers had commented about how lowering the price does not make sense without volume to go with it.
There has not been enough volume to make up for the price decrease with the automotive industry out of the picture. As a result, the market remains quiet on the eve of automotive restarts in the US. However, a possible postponement until June 1, of automotive restarts in Mexico could delay the process of resuming automotive operations across North America since the US is still slated to reopen its car plants on May 18.