US aluminum scrap export prices continued a downward trend this past week as demand from Asian countries remained weak.
In China, market activity is subdued as the Lunar New Year approaches. Several market participants expect demand, and in turn prices in the country, to rise after it returns to the market late next week. The prevailing container shortage has also seen a few sellers lose or cancel orders in the past week.
With markets quiet in India and Malaysia as well, many exporters are now shipping to Mexico, which remains an active player.
The weekly Davis Index for zorba 95/2 declined by 1.6¢/lb to 64¢/lb fas US port while zorba 99/3 fell by 1.2¢/lb to 65¢/lb fas. Prices for zorba have continued to decline in both the domestic as well as export market on lower demand.
The index for Taint/Tabor decreased by 3.1¢/lb to 62¢/lb fas while Tense fell fell by 3.6¢/lb to 62.8¢/lb fas US port. Like the prior week, the index for 6063 extrusion defied trends to rise by 1.5¢/lb to 82.5¢/lb fas. A356 wheels, on the other hand, remained unchanged at 80.2¢/lb fas.
The three-month LME Aluminium contract closed Thursday at $1,984/mt, down by $3.50/mt from $1,987.50/mt on Jan 28.