Asia aluminium import prices were stronger across the majority of grades, as Indian traders remained active in the aluminium market. With China’s exit from the aluminium scrap market, Indian and South-Eastern participants strengthened buying of scrap.
The weekly Davis Index for A356 wheels (Troma) Friday rose by $42/mt to settle at $1,452/mt cfr India port, while the index for 6060 extrusion scrap settled at $1,465/mt cfr India port, marginally up by $15/mt from the prior week.
The official three-month aluminium contract settled at $1,774/mt on Thursday, up by $15.5/mt from the prior week.
The weekly Davis Index for Taint/Tabor settled $1,100/mt cfr India port, up by $7/mt from the prior week while the Index for Tense settled at $1,075/mt cfr India port on adequate supply in the market.
Sale of secondary aluminium ingots to China have reduced on pent up domestic demand in India. Manufacturers are not ready to export ingots below $1,525-1550/mt level.
The weekly Davis Index for ADC 12 cfr China settled at $1,498/mt,,down by $31/mt from the prior week. Market participants confirmed few trades at this level.
Manufacturers preferred fulfilling domestic demand as companies in the auto sector increased production of cars and two-wheelers. Demand for two-wheeler and four-wheeler has improved in the last few days as people are giving preference tto personal vehicle oveover public transport due to hygiene concerns.