The Davis Index for P1020A and 6063 billet premiums delivered US Midwest remained unchanged on Monday amid sluggish sales activity.
The weekly Davis Index premium for P1020A was flat at 8.7¢/lb delivered US Midwest, under the three-month LME aluminum contract on Monday.
The index for 6063 billet premiums was also unchanged at 5.8¢/lb delivered US Midwest under the same LME aluminum contract.
The three-month LME aluminum contract closed on Monday, $1,591/mt down by $5/mt from $1,596/mt on June 15.
Market participants in the US have cited the abundant supply of primary aluminum from Canada over the past six months, as one of the main reason premiums have remained low. The outcome of a potential government investigation to verify the amount of primary aluminum entering the US has not increased significantly since the removal of the 232 tariffs a year ago, could help the market gauge future trends.