US secondary aluminum scrap prices moved down by a cent or more in the past week with demand from secondary smelters turning cold after returning from the long weekend.
The weekly Davis Index for old sheet fell 1.5¢/lb to settle at 68.3¢/lb delivered US consumer while old cast declined by the same amount to 67.3¢/lb delivered. Secondary MLC prices continued upward, rising by 1.8¢/lb to 78¢/lb delivered, and painted siding (secondary) increased by 0.8¢/lb to 71.3¢/lb delivered. High-grade turnings rose by a penny to 66.7¢/lb delivered.
Twitch increased by 1.1¢/lb to 76.8¢/lb delivered as export demand from Asia gained steam. In Korea and Taiwan, particularly, the market for this material is almost 10¢/lb higher. The Davis Index for domestic Zorba 95/2 settled at 64.9¢/lb delivered, up 0.2¢/lb.
Renewed activity seen in the market at the beginning of September slowed down after the long Labor Day weekend. While primary scrap is now being traded with decent flows, secondary scrap activity is almost at a standstill. This has forced sellers to drop offers to find business. Most buyers at secondary smelters reported ease in finding scrap at bargains. MLC and siding remain the most sought-after materials at the moment, with most mills looking for good quality loads for prompt delivery.