US secondary aluminum smelter pricing remained unchanged on most grades from last week despite the decrease in three-month LME aluminum prices.
The Davis Index for mixed 2000/7000 series solids and secondary MLC remained unchanged from last week at 40¢/lb and 45¢/lb, respectively.
The Index for aluminum-copper radiators decreased the most of any grade dropping by 6¢/lb to $1.19/lb, from $1.25/lb on the weakness in the COMEX exchange market. The next active COMEX exchange price dropped from $2.77/lb, a week ago, to $2.56/lb on Wednesday.
The Davis Index for Old Cast remained the same from last week at 38¢/lb, while it increased for Old Sheet by a penny from 38¢/lb to 39¢/lb on tight supply. The Indices for Tweak, Twitch, and Zorba were also unchanged with Tweak and Twitch bought in the 42-44¢/lb range and Zorba holding at 45¢/lb.
The three-month LME aluminum closed Wednesday at 78.8¢/lb, down from last week’s 82¢/lb.
Smelters are finding it difficult to find material to meet current demand. Consumers are having to extend their reach to find scrap material they need and are running into export markets where prices are currently equal to or better than US secondary domestic markets.