Aluminum mill prices were mixed over the week as the strength in the LME has supported better flows with dealers willing to sell against a strong LME market.
The spread for mill-grade 1100 & 3003 clips was at 6¢/lb under the three-month LME aluminum contract on Tuesday, narrower by 1.5¢/lb, while the weekly Davis Index for the grade increased by 0.6¢/lb to 77.7¢/lb delivered US consumer. The Davis Index for 5052 inched up by 0.2¢/lb to 80.7¢/lb, with the spread slightly wider by 0.6¢/lb at 1.6¢/lb, under the three-month LME aluminum contract.
The spread for scrap 6063 was flat at 4¢/lb under the three-month LME aluminum contract, while the index for the grade increased by 0.1¢/lb to 78.8¢/lb delivered US consumer. The weekly spread for mill-grade MLC was widened by 2¢/lb to 28.5¢/lb, while the index for the category decreased by 1.2¢/lb to 56¢/lb delivered US consumer.
Mill grade painted siding pricing moved down by 0.5¢/lb to 53.5¢/lb, while the spread was wider by 2¢/lb at 30.5¢/lb under the three-month LME contract.
The three-month LME Aluminum contract closed Tuesday at $1,844/mt, down from $1,854/mt on Oct 13.
The strength in the LME market is driven by talks of an economic stimulus in China and the US, pushing base metals higher over the week. It has now reached a level where many suppliers are happy with their margins and are shipping the material to realize that gain.