US secondary aluminum alloys prices trended flat to up on Friday as sales activity began to increase. A380.1 stayed on its upward trend, albeit at a slow pace.
The weekly Davis Index for A380.1 ticked up to 68.5¢/lb delivered US consumer on Friday, better by 0.05¢/lb and held at 73.8¢/lb delivered for 319.1. The index for A360.1 was flat at 80.8¢/lb delivered US consumer and was unchanged at 82.3¢/lb delivered US for A413.1.
The three-month LME aluminum contract closed at $1,582/mt on Friday, down by $17/mt from $1,599/mt on Jun 19.
The pace of the increase in secondary alloy sales and pricing has helped keep aluminum scrap pricing from running wild in a tight supply environment.
Smelters have remained disciplined in scrap purchases and are being careful about not overextending themselves as cases of the COVID-19 virus continue to rise, especially in regions that have reopened.
Texas, one of the first states to open back up, announced Friday morning, that it would be shutting some businesses again and restricting outdoor recreation activities to help contain the spread, sparking a new level of concern for the economy.