US aluminum export prices fas US ports were higher across most grades this week on sustained demand from most of Asia. Improved global automotive demand and scarce Chinese aluminum alloy production kept Indian smelters busy.
The weekly Davis Index for 95/2 Zorba fas US ports was flat at 49.7¢/lb, while the index for 99/3 Zorba moved rose by 0.2/¢/lb to 51.9¢/lb. Chinese buying activity has decelerated, although there’s still interest in purchasing for below-market prices.
The Davis Index for Taint/Tabor and Tense both climbed from last week, with Taint/Tabor increasing by 0.7¢/lb to 49.2¢/lb and Tense moving up by 2.4¢/lb to 49.5¢/lb. The increase in Tense was driven by a cast shortage, and both Tense and 356 wheels jumped by 2¢/lb, with the latter settling at 63¢/lb fas US port.
The Davis Index for aluminum-copper radiators increased by 2.1¢/lb, to $1.367/lb on the strong Comex market, which is hovering around $3.00/lb on the Comex exchange.
The official three-month LME Aluminium contract increased by $2.5/mt to $1,781/mt on September 10 from $1779/mt on September 3.
Domestic price in India on up $20-$60/mt from last week in India, but offers for export grades in the US have risen stalling the increases seen at the fas US port level. If India is unable to find what they need domestically fas US port pricing could move higher over the coming weeks.