The Davis Index for A356 wheels (Troma) settled at $1,332/mt cfr India port, Friday, down by $6/mt from a week ago, while the index for 6063 extrusion scrap settled at $1,433/mt cfr India port, up by $78/mt from a week ago, driven by the demand for extrusion scrap from downstream industries that resumed functioning last week.
India’s weekly imported aluminium scrap prices were mixed. Demand in the automotive and infrastructure sector has started to return. The LME aluminium futures contract rose 2.22pc from the prior week.
The weekly Davis Index for Taint/Tabor settled at $1,118/mt, up by $43/mt from the prior week while the index for Tense settled at $1,000/mt, up by $37/mt from the prior week, on demand from alloy manufacturers that started production in last few days.
Sale of secondary aluminium ingots to China dropped and manufacturers preferred to wait for the domestic demand to return as the auto sector showed signs of recovery through the upcoming demand for two-wheeler and commercial vehicle segment. A few manufacturers also looked at Asian markets like Thailand. The weekly index for ADC 12 settled at $1,445/mt, down by $53/mt from a week ago.
The official three-month LME aluminium contract settled at $1,697.5/mt Thursday, up by $37/mt from a week ago.