US domestic secondary aluminum scrap prices varied across grades over the past week, taking cues from primary grades.
The weekly Davis Index for old sheet rose by 2¢/lb to 69.9¢/lb delivered US consumer while old cast increased by 0.7¢/lb to 69.3¢/lb delivered. Secondary MLC settled at 77.1¢/lb delivered, up by 1.7¢/lb, continuing its upward movement for almost a month. The Davis Index for painted siding (secondary) fell by 0.3¢/lb to 70.2¢/lb delivered. High-grade turnings slipped 0.2¢/lb to 65.6¢/lb delivered.
The official LME Aluminium cash price settled Wednesday at $2,523/mt ($1.095/lb), up by $107/mt from Jun 23.
Activity in the shredded auto scrap market remained rangebound with the index for Zorba 95/2 flat at 62.7¢/lb delivered while Twitch moved down by 1.3¢/lb to 76¢/lb delivered. Domestic prices for this grade remain bleak at the moment as the auto industry has still not fully recovered from the semiconductor shortage.
Most buyers were inactive in the market, as the holiday weekend approaches. With smelters already full with inventory and ready to shut down in July, demand remains weak for now. Market participants anticipate activity to pick up closer to the end of August as the last quarter is expected to see plentiful auto demand.