The weekly US premiums for P1020A and 6063 moved higher after supply from Canada tightened, shifting the global supply chain, and keeping the US’ northern neighbor under the radar of the Section 232 tariffs.
The weekly Davis Index for P1020A was higher by 0.3¢/lb at 13.4¢/lb delivered US consumers under the three-month LME Aluminium contract on Monday while the 6063 billet premium increased by 0.6¢/lb to 8.5¢/lb delivered above the P1020A premium.
Canada left some sales on the table, limiting them by more than 16,000mt under the US assigned quota of 83,000mt in September. As a result, premiums were pushed higher over the past month.
The three-month LME Aluminium contract closed on Monday at $1,946.50/mt, up by $16.5/mt from its close at $1,930/mt on Nov 9.