Aluminum prices across the board continue to push higher led by benchmark prices on the London Metal Exchange (LME) and the U.S. Midwest aluminum premium. The rising prices are also being supported by solid demand for secondary aluminum, higher prices on alloying metals and rising production costs.
The LME three-month aluminum contract closed the August 12 session up nearly 1% for the week, and more than 5% and 48% higher from a month ago and year ago respectively. The U.S. Midwest aluminum premium reached an all-time during the week, before steading by the weekend. Domestic secondary aluminum tags were all higher for week, except smelter-grade aluminum, which traded sideways to slightly lower.
Metro Alloys has successfully served its clients for more than 30 years in all market conditions and we encourage you to contact your sales representative, Abby Frank or Gary Kamp with any questions about current market conditions.