US aluminum export prices fas US ports were stronger across all grades as activity picked up in India and continued its upward momentum in Southeast Asia.
The weekly Davis Index for 95/2 Zorba jumped by 1.1¢/lb to 41.8¢/lb fas US ports on robust demand for the grade from Indian smelters that are short on aluminum scrap as the country reopens after a prolonged COVID-19 related lockdown. The index for 99/3 Zorba also moved higher by 2.1¢/lb to 44.3/¢/lb fas as Southeast Asia is looking to take advantage of the demand increase in aluminum secondary alloys in Japan.
The Davis Index for Taint/Tabor and Tense were both higher compared to last week, with Taint/Tabor increasing by 1.1¢/lb to 43.9¢/lb fas US ports and Tense moving up by a penny to 42.9¢/lb fas.
The Davis Index for aluminum-copper radiators decreased by 0.2¢/lb, to $1.297/lb on a weaker but relatively steady Comex market, which continues to hover just below its peak for 2020.
The official three-month LME aluminum contract increased by $39.50/mt to close Thursday at $1,758.50/mt up from $1,719/mt on July 30.
Domestic scrap prices in India moved higher this week to spur better flows. However, sporadic lockdowns across the country have interrupted supply lines and cut off flows, leaving the country to rely more on imported material for the time being.