US aluminum export prices rose across some grades while others decreased on Thursday as the market flirted with talks of opening back up.
The weekly Davis Index for 95/2 zorba increased by 3.2¢/lb to 31.8¢/lb fas US ports and increased by a penny for 99/3 zorba to 33.5¢/lb fas on Thursday.
Demand for aluminum scrap has been robust from China against tight supply. The country is directly importing 99/3 zorba with 95/2 zorba heading into southeast Asia to be processed into CCIF quality or melted into ingot for resale into China.
The index for taint/tabor decreased by 1.5¢/lb to 38.2¢/lb fas US ports and remained unchanged for tense at 41¢/lb fas. The index for A356 wheels increased by 0.2¢/lb to 57.2¢/lb fas US port.
The official three-month LME aluminum contract price increased by $47/mt to close at $1,514/mt on Thursday from $1,467/mt on April 9.
News of India reopening some of its businesses has brought hope for some suppliers who anticipate an increase in demand, which will bolster export scrap prices in the short term.