India’s weekly imported aluminium scrap prices continued their downtrend and fell by $10-15/mt on Friday, driven by a $12.5/mt fall in the official three-month LME aluminium contract on Thursday from a week ago.

 

Prices dropped by a lesser margin than $60-70/mt in the prior week. The continued decline in prices was the result of a fall in LME after Chinese markets shut down amid the Coronavirus outbreak. 

 

The weekly Davis Index for Tense settled at $1,040/mt cfr India port, Friday, down by $10/mt. The index for Taint/Tabor settled at $1,047/mt, cfr India port, down by $15/mt. 

 

The weekly Davis Index for Talk settled at $2,800/mt, cfr India port, Friday, down by $50/mt, on a fall in LME aluminium and copper. Sellers are hopeful for prices to go up, as LME aluminium and copper prices started moving upward from Monday, Feb 03.

The official three-month LME aluminium contract settled at $1723.5/mt on Thursday, down by 0.7pc from a week ago. 

Leave a Reply

Your email address will not be published.