Asian imported Extrusion, A35 wheels, Tense, Taint/Tabor and Talk advanced, while prices of Tally, Zorba 95/2 declined this week. While the three-month aluminium contract rose by $60.5/mt to $2,510.5/mt on July 15 from $2,450/mt on July 8. In a preceding week, the contracts dropped by $47.5/mt from $2,497.5/mt on July 1.
ADC 12 trades to Japan and China showed signs of recovery. Secondary manufacturers are optimistic and expect August shipments to be way more than those in July.
The weekly Davis Index for Zorba 95/2 settled at $1,605/mt cfr India port, down by $13/mt from the prior week, while for Zorba 99/3 the index settled at $1,523/mt cif China port, down by $177/mt.
Exporters reported weak trades with Chinese buyers due to stringent checks at ports. They said some buyers paid $1,650-1,700/mt cfr China port for cleaner material. Most exporters believe that a drop in Chinese demand is pulling scrap bids down. Few Chinese buyers are opting for cleaner Twitch to conform with custom specifications.
The weekly Davis Index for Talk rose by $114/mt to settle at $4,765/mt cfr India port from the prior week amid thin trades. Due to extended lockdown measures in Malaysia, participants exporting Talk scrap are out of action is pushing prices higher.
The weekly indexes for 6063 extrusions settled at $2,185/mt up by $142/mt while for A356 wheels, settled at $2,185mt cfr India port prior week, up by $22/mt. Participants heard trades for clean extrusion at $2,150-2,210/mt cfr India higher from $2,120-2,200/mt in the prior week. The wide price variation in the cleaner extrusion grades is supporting high offers.
Demand for Taint/Tabor and Tense is rising as manufacturers are expecting a revival in domestic and export demand in August. The weekly Index for Taint/Tabor rose $17/mt to settle at $1,756/mt cfr India port from the prior week and the index for Tense settled $1,729/mt cfr India port up by $31/mt.
ADC 12 trades
The weekly Davis Index for ADC 12 cfr China settled $2,281mt cfr China port, up by $11/mt from a week ago, while the index for ADC 12 cfr Japan settled at $2,313/mt, up $13/mt from the prior week.