Prices for US secondary aluminum smelter scrap were mostly flat over the past week, as demand drove prices in different directions, depending on the grade of scrap.
Market participants remain cautious as consumers are only looking to buy what they need in the short term.
The weekly Davis Index for aluminum shredder grades were stronger on Wednesday, with Tweak increasing by 0.1¢/lb to 38.2¢/lb del US smelter. Twitch moved up to 43.6/lb, better by a penny, and Zorba rose by 0.5¢/lb to 36.4¢/lb.
The index for Old Cast was flat at 36¢/lb delivered US smelters on Wednesday and held for Old Sheet at 37.3¢/lb delivered.
The Davis Index for secondary MLC remained unchanged at 41.4¢/lb delivered US smelter and decreased by 0.3¢/lb to 38.0¢/lb delivered smelters for painted siding.
The three-month LME aluminum contract closed at $1,614/mt, better by $27/mt from $1,587/mt on June 24.
Economic activity is gaining strength in the US. However, if states that have seen an increase in the number of COVID-19 cases are not able to contain the surge, more shutdowns could remove whatever little traction the markets have got since the economic restart in late May.