The prices for US secondary aluminum scrap delivered Midwest smelters increased for the second straight week amid growing concerns over tightness in aluminum scrap supply.
The weekly Davis Index for 2000/7000 mixed solids increased by 1¢/lb to 42.5¢/lb on Wednesday, while the index for old sheet increased by 0.5¢/lb from last week’s price, to 41.7¢/lb and old cast remained at 40.6¢/lb. The index for secondary MLC prices rose by 0.7¢/lb to 44.8¢/lb, up, from last week.
The indices for Tweak, Twitch, and Zorba all increased from last week with Tweak increasing by a penny to 43.5¢/lb and Twitch and Zorba increasing by around half a penny to 44¢/lb, and 45¢/lb, respectively, on Wednesday.
The three-month LME aluminum contract closed at $1,702/mt on Wednesday, down by $10/mt from last $1,712/mt on Feb 19.
Concerns over the virus outbreak remain, but winter weather in the US Midwest is the latest hardship facing the industry. Significant snowfalls are expected throughout the Midwest and the Northeastern United States, hampering scrap flows even more.