Prices of secondary aluminum smelter scrap delivered US decreased on Wednesday as secondary smelters shuttered operations due to the economic downturn caused by the COVID-19 pandemic.
The weekly Davis Index for 2000/7000 solids dropped to 38.2¢/lb delivered US on Wednesday, from 39.5¢/lb delivered on March 18, while old sheet decreased by 5¢/lb to 35.3¢/lb delivered US. The index for old cast also dropped by 3.3¢/lb to 35.7¢/lb delivered US.
The Davis Index for secondary MLC prices settled down by 2.6¢/lb to 40¢/lb delivered US. The indexes also decreased for tweak, twitch, and zorba during the week with tweak decreasing by 3.2¢/lb to 36.7¢/lb delivered and zorba declining by 2.7¢/lb to 35¢/lb delivered.
The index for twitch dropped by close to 4¢/lb to 37.7¢/lb delivered US while painted siding also moved down by almost 4¢/lb to 40.3¢/lb delivered on Wednesday.
The official three-month LME aluminum contract closed at $1,538/mt on Wednesday, down by $88/mt from $1,626/mt on March 18.