Prices for US secondary aluminum smelter scrap delivered US consumers were higher for all grades as production ramps back up after the festive season.
The weekly Davis Index for Zorba moved up by 0.1¢/lb to 69.1/lb delivered US consumer. The index for Tweak was higher by 1.5¢/lb at 73¢/lb delivered, with Twitch rising the most to 78.5¢/lb delivered, up by 10.5¢/lb. All three grades still have significant competition from the export market, a trend expected to continue as 2021 progresses.
The index for Old Cast was higher by 2.5¢/lb at 63¢/lb delivered US consumer on Wednesday, while the index for Old Sheet rose by 2.2¢/lb at 60.8¢/lb delivered.
The Davis Index for high-grade turnings increased by 1¢/lb to 57¢/lb delivered. In comparison, 2000/7000 series turnings moved to 51¢/lb delivered, better by 2¢/lb. Aluminum turnings have been tight for most of 2020 with the aerospace industry struggling due to the COVID-19 pandemic. Manufacturing shutdowns for the holidays and outbreaks of pandemic have squeezed an already tight market even further, pushing turnings prices higher.
The three-month LME Aluminum contract closed Wednesday at $2068/mt, up from $1997/mt on Dec 30.