The weekly Davis Index for A380.1 increased by 1.2¢/lb on Friday to $1.205/lb delivered US consumer while offers were heard as high as $1.25/lb as demand outpaced supply.
Producers are struggling with order fulfillment as many smelters remain offline for repairs and maintenance. Deliveries are also being impacted by higher freight and raw material costs. Despite these headwinds, demand remains robust for most aluminum alloy grades. Demand from the automotive industry has revived as the semiconductor chip situation continues to improve and auto facilities resume production.
The index for A356.1 increased by 3¢/lb to $1.43/lb delivered US consumer with some spot deals heard a cent higher. Prices for A413.1 rose by a cent to $1.41/lb delivered. The index for A360.1 climbed by 0.5¢/lb to $1.395/lb delivered. The 319.1 grade was the only one to reduce, declining by 0.5¢/lb to $1.275/lb delivered.
The official LME Aluminium cash price settled Friday at $2,492/mt ($1.13/lb), down $1/mt from Jul 16.