Spreads for US mill-grade aluminum extruder scrap were flat from last week as spot market activity picked up on Tuesday.
The Davis Index spreads for mill-grade MLC held at 28¢/lb while the spot prices for the grade increased by 1.3¢/lb, to 49.7¢/lb. Spreads for Mill-grade painted siding were flat at 30¢/lb and spot deals on mill-grade painted siding, were up between 2¢/lb to 49¢/lb on Tuesday.
The spreads for 5052 clip scrap held at 12.1¢/lb with outright pricing for the category increasing to 66¢/lb, up a penny from last week. Spot deals for UBCs were done at 53¢/lb, while the spread for this grade was flat at 25.9¢/lb.
The Davis Index spread for Litho sheet scrap remained at 14.1¢/lb under the three-month LME aluminum contract on Tuesday, with spot prices for the grade settling at 64.3¢/lb, up a penny from last week.
Consumers looking to fill inventory positions have been driving spot prices in the market by pricing material on a wide range, with spot deals at higher numbers than what spreads would pay in some cases. However, market participants are now gauging how long this trend would continue.
The three-month LME aluminum contract closed up $32/mt at $1721/mt up from a week ago at $1689/mt.