US primary aluminum premiums decreased marginally this week as North American supply remained plentiful amid weakening demand.


The Davis Index premium for P1020a delivered US Midwest lowered to 13.6¢/lb under the three-month LME aluminum contract, down from 13.8¢/lb a week ago, while the index for 6063 billet del US premium remained flat at 7¢/lb under the same LME Aluminum contract.


The three-month LME Aluminum contract closed at $1,717/mt today, up $21/mt from $1,696/mt on Feb 24.


The premiums for both P1020a and 6063 were unchanged for about a month before this week’s downward movement. Domestic business activity is slowing down on concerns over the news of the first Covid-19-related death in America and the change in premiums on Monday signaled the market’s first reaction to the continued spread of the virus on US soil. 

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