In Asia, aluminium import prices for 6063 extrusion, A35 wheels, Taint/Tabor and Zorba 95/2 dropped while Talk and Tense gained despite the drop in the three-month aluminium contract on LME. The trades for ADC 12 to China and Japan remained slow. Indian manufactures did not hear new offers from Chinese or Japanese buyers this week.
Demand for the raw material used by the auto alloy manufacturers slowed down after October. Transportation delay is leading to the rise in the prices of scrap as importers continued to struggle with vessel and container shortage, in addition to the winter restricting trade in many parts of Northern hemisphere.
The official three-month aluminium contract settled at $2,009/mt, down by $11/mt from $2,020.5/mt on Jan 7.
The weekly Davis Index for Zorba 95/2 settled at $1,631/mt cfr India port, down by $69/mt while the index for Zorba 99/3 settled at $1,700/mt cif China port, down by $115/mt. Chinese bids have come down drastically and with the reclassification standards in place, only a few are exporting material to China.
The weekly Davis Index for 6063 extrusion dropped to $1,660/mt cfr India port, down by $3/mt. The weekly index for Taint/Tabor dropped by $8/mt to settle at $1,535/mt cfr India port.
The weekly index A356 wheels dropped to $1,885/mt, cfr India port, down by $25/mt.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $3,825/mt cfr India port, up by $8/mt while the index for Tense settled at $1,520/mt cfr India port, up by $20/mt.
The weekly index for ADC 12 cfr China settled at $2,150/mt cfr China port prior week, down by $25/mt.
The weekly index for ADC 12 cfr Japan settled at $2,300/mt, down by $270/mt from $2,570/mt. Purchase orders from Japan have thinned. Few Indian manufacturers exported ADC 12 to South Korea at $2,190/mt cfr Busan as trades with China and Japan dropped.