Aluminium import prices in Asia for Zorba 95/2 and extrusion dropped marginally while all other grades settled flat to high despite drop in the three-month aluminium contract on LME. Asian buyers struggled to secure scrap amidst container and vessel shortage plaguing the US exporters. Trades of ADC 12 to China and Japan remained quiet due to the holiday season.
A few market participants shared that demand for raw material used by auto alloy manufacturers has declined compared to Oct and Nov. Delay in transport of material is leading to rise in scrap prices.
The official three-month aluminium contract settled at $1,997/mt on Dec 30 from $2,025.5/mt on Dec 24, down by $28.5/mt.
The weekly Davis Indexes for Zorba 95/2 settled at $1,650/mt, down by $10/mt from $1,660/mt cfr India port, and for Zorba 99/3 settled at $1,750/mt cif China port, up by $50/mt.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $3,700/mt cfr India port, up by $25/mt while the index for Taint/Tabor settled at $1,493/mt cfr India port, up by $8/mt. The weekly index for Tense settled at $1,500/mt cfr India port, up by $8/mt.
The weekly Davis Index for 6063 extrusion dropped to $1,628/mt by $22/mt cfr India port while the weekly Index for A356 wheels rose to $1,813/mt cfr India port, up by $38/mt.
The weekly Davis Indexes for ADC 12 settled flat at $2,155/mt cfr China port and $2,325mt cfr Japan.