Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Import prices in Asia for aluminium scrap grades like A35 wheels, Tense, Zorba 95/2, Talk dropped while Taint/Tabor and Tally gained due to the rise in the three-month aluminium contract on LME from the prior week. The trades for ADC 12 to China and Japan remained slow with only a few manufacturers hearing bids from the two countries. 


Market participants remained cautious of the changes in prices on LME and remained on the sideline, hoping that the scrap prices would fall following the slide in the global market. Importers continued to struggle with vessel shortage and avoided booking, as downstream manufacturers shirked away from buying scrap at a higher price due to rising freight.    


The official three-month aluminium contract rose to $2,226.5/mt on March 18, up by $45/mt from March 11. The participants remained wary of the future direction of aluminium scrap prices as the three-month aluminium contract dropped to $2,198.5/mt intraday, down by $28/mt from the last day closing price. 


The weekly Davis Indexes for Zorba 95/2 settled at $1,693/mt cfr India port, down by $12/mt; and for Zorba 99/3 settled at $1,720/mt cif China port, up by $20/mt. 

Participants reported unstable Zorba prices as three-month LME Copper prices rose by $29.5/mt to settle at $9,077.5/mt on March 18.


The weekly Davis Index for 6063 extrusion settled at $1,767/mt cfr India port, down by $3/mt. Others reported trades of 6063 extrusion at $1,800/mt cfr India port, but not all importers confirmed the escalation in the  prices. 


The weekly Davis Index for Taint/Tabor rose by $6/mt to settle at $1,656/mt cfr India port. 


The weekly Indexes A356 wheels rose to $1,978/mt cfr India port by $3/mt; and for Tense settled at $1,600/mt, also down by $3/mt.


The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $4,350/mt down by $72/mt cfr India port. Participants also reported prices hovering around $4,300-4,400/mt. Demand was muted as importers took a brief pause to analyse the future price direction.


The weekly Davis Index for ADC 12 cfr China settled at $2,200/mt, up by $10/mt. ADC 12 exporters reported few bids at $2,250/mt level but not exporters confirmed trades at these levels. 

The weekly Davis Index for ADC 12 cfr Japan settled at $2,300/mt, down by $18/mt. Chinese manufacturers heard bids from Japan at $2,350/mt level but Indian manufacturers heard bids at $2,250/mt level. 

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