US aluminum mill scrap prices are trending sideways on specific demand and lower volumes in a flat LME market. 

 

The spread for mill-grade 1100 & 3003 clips was flat at 2¢/lb under the three-month LME aluminum contract on Tuesday while the weekly Davis Index for the grade increased by 2¢/lb to 75¢/lb delivered US consumer. The David Index as well as the spread for the 5052 grade were flat at 78¢/lb and 8.3¢/lb under the three-month LME aluminum contract, respectively. 

 

The spread for scrap 6063 held at 5¢/lb under the three-month LME aluminum contract, while the index for the grade increased by 0.4¢/lb to 76.4¢/lb delivered US consumer. The weekly spread for mill-grade MLC tightened slightly by 0.01¢/lb to 25¢/lb under the LME aluminum contract, while the index for the category increased by 0.1¢/lb to 55¢/lb delivered US consumer.

 

Mill grade painted siding prices rose by 0.1¢/lb to 53¢/lb, while the spread was flat at 28¢/lb under the three-month LME contract.  

 

The official three-month LME Aluminum contract closed on Tuesday at $1,783/mt, slightly up from $1,780/mt on Sep 29.  

 

The market could remain quiet this month with suppliers holding back on offers since the market has come off its price peak and as the country heads towards the US Presidential elections. Suppliers are hoping for scrap supply to tighten once again in the near-term, which could push aluminum scrap prices higher again.

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