Asia aluminium import prices for Taint/Tabor, old cast rose on continued demand from the secondary manufacturers. The manufacturers exporting ADC 12 alloys to China said that they will restrict the purchase of old cast scrap as China will be allowing import of aluminium scrap from November 1. The other producers in South East Asia are of the opinion that China may drop the purchase price for auto alloys in future.
Indian manufacturers completed remaining ADC 12 export orders to China but mentioned that very few new orders are getting booked due to China deciding to allow aluminium and copper scrap imports. Some manufacturers reported slowing of the purchase orders from Japan. Other market participants shared that the prices of the old cast and few other grades may rise upon China’s entry into the scrap market.
The official three-month aluminium contract settled at $1,840/mt, up by $0.5/mt from $1,839.5/mt October 15.
The weekly Davis Index for Taint/Tabor settled $1,285/mt cfr India port, up by $5/mt. The Index for Tense settled at $1,267/mt cfr India port, up by $19/mt from October 16.
The weekly Davis Index for ADC 12 cfr China remained unchanged at $1,850/mt from the prior week. The manufacturers in Vietnam shared that Chinese buyers are offering $1,950/mt for ADC 12 ingots.
The weekly Davis Index for ADC 12 cfr Japan settled at $1,920/mt, up by $60/mt. Davis Index heard trades at $1,920 level for ADC 12 cfr Japan from China, but not all manufacturers from other South-East Asian countries confirmed trades at these levels. Davis Index had heard Japanese offers at $1,800/mt cfr Japan port from India last week.