Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US aluminum scrap spreads for mill and extrusion grades of scrap weakened over the past week to balance out the rise in the LME cash market.


Trading activity resumed over the week as weather improved in most regions across the US. Scrap flows remained slow, leading sellers to raise offers. However, mills refused to lift prices and instead widened buying spreads as they expect flows and freight to ease in the next few days.


The official LME Aluminium cash price closed Tuesday at $2,136.50/mt (96.9¢/lb), up by $59.50 from $2077/mt on Feb 16.


The weekly Davis Index spread for mill-grade 1100 & 3003 clips weakened by 1.6¢/lb to 11.7¢/lb under the Midwest transaction price. The outright price index for the grade stood at $1.01/lb delivered US consumer, up by 1.7¢/lb. 


The Davis Index spread for 6063 new bare widened by 1.3¢/lb to 15.2¢/lb under Midwest. The weekly index for the grade was flat at 96.5¢/lb delivered US consumer. 


The weekly Davis Index for mill-grade MLC, however, was tighter by 1.7¢/lb at 30.8¢/lb under Midwest. Meanwhile, the outright price for the grade rose by 5¢/lb to 81.9¢/lb delivered. 


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