Aluminium import prices in Asia for Talk or aluminium-copper radiators, Taint/ Tabor, Zorba 95/2 and A356 wheels rose on the back of strong demand in India and other Asian countries due to possible scrap scarcity during winter in Northern hemisphere and fear of shutdowns due to the second wave of the COVID-19.
Davis Index heard revised offers from Chinese and Japanese buyers for ADC 12 exported from India and China, highlighting the strong demand for auto alloys in the Asian market.
The official three-month aluminium contract settled at $1,978/mt on Nov 26, down by $16.5/mt from $1,994.5/mt on Nov 19.
The weekly Davis Index for Talk settled at $3,415/mt cfr India port, up by $134/mt. Taint/Tabor settled at $1,368/mt cfr India port, up by $30/mt, while the index for Tense remained unchanged at $1,350/mt, cfr India port.
The weekly Davis Indexes for Zorba 95/2 settled at $1,400/mt cfr India port, up by $12/mt, and for Zorba 99/3 settled at $1,426/mt cfr China port, up by $1/mt. Aluminium scrap that was earlier delivered in Hong Kong due to scrap restrictions in China is imported through Guangdong port after being polished and repacked. On Nov 1, China declared that only high standard scrap will allowed through its shores. Sources told Davis Index that smelters must wait for favorable results while the scrap is tested at laboratories.
The weekly Davis Indexes for 6063 extrusion settled at $1,530/mt cfr India port, up by $50/mt while that of A356 wheels rose to $1,685/mt cfr India port, up by $2/mt.
ADC 12 manufacturers reported new enquiries from China and Japan. The weekly Davis Index for ADC 12 cfr China settled at $1,840/mt cfr China port, up by $40/mt from prior week.
The weekly Davis Index for ADC 12 cfr Japan settled at $1,945mt, up by $55/mt from $1,890/mt. Indians heard ADC 12 offers at $1,860/mt. Chinese manufacturers exported ADC 12 at $2,030/mt cfr Japan port.