US export aluminum scrap prices were rangebound over the past week as logistics issues continued to hinder business, among other factors.
The weekly Davis Index for Taint/Tabor increased by 1.2¢/lb to 74¢/lb fas US port while Tense prices rose to 72.5¢/lb fas, up by 1.8¢/lb. Prices for A356 wheels and aluminum radiators were flat at 90.5¢/lb fas and 66¢/lb fas, respectively.
The official LME Aluminium cash price closed Thursday at a fresh annual high of $2,476/mt ($1.123/lb), up by $44/mt from Apr 29.
South Asian export markets are quiet, with Japan out the market this week for holidays. India has also seen few to no trades this week as the second wave of the COVID-19 pandemic has suspended secondary smelter operations. Still, Chinese buyers remain active as they expect to sell ADC12 around $2,400/mt cfr Japan once the market reopens next week.
The weekly Davis Index for zorba 95/2 was flat at 75.5¢/lb fas US port as Indian buyers stepped away from the market. Zorba 99/3 was also unchanged at 75.5¢/lb fas US port.
Port congestion and container issues has seen exporters shipping out backlogged orders. Some traders have now accepted that shipments will not be as prompt due to the current scenario and adjusted contracts accordingly.
Reports of empty containers returning to Asia have also been heard due to very few trades at the current price level for most non-ferrous scrap. Chinese buyers are also switching to remelt ingots over scrap due to new quality standards.