US secondary aluminum smelter prices delivered US Midwest increased over the past week as smelters became increasingly concerned over the growing tightness in aluminum scrap supply.
The Davis Index for US secondary aluminum smelter 2000/7000 mixed solids increased by 1.2¢/lb to 41.3¢/lb.
The Index for old sheet rose by 1.2¢/lb from last week to 41.2¢/lb while the Index for old cast increased to 40.6¢/lb, up by 1.5¢/lb, from a week ago. The Index for secondary MLC also increased by 1.2¢/lb to 44.2¢/lb on Wednesday.
The Davis Index for Tweak, Twitch, and Zorba all increased from last week on Wednesday to 42.5¢/lb, 43.3¢/lb, and 44.6¢/lb, respectively, all up by 1.2¢/lb.
The three-month LME aluminum contract closed on Wednesday at $1,725/mt up from last week’s price of $1,731/mt.
Tightness in aluminum scrap has been pushing prices higher. Domestic smelters have been lagging export markets on prices and are playing catch up looking for material that isn’t plentiful due to winter weather throughout the Midwest.