US export scrap aluminum fas US port moved down from last week as doubts set in about receiving the material in Chinese ports.
The Davis Index for 99/3 Zorba fas US ports and for 95/2 Zorba fas US ports decreased by a penny each to 45¢/lb and 43¢/lb, respectively, from the prior week.
The index for Taint/Tabor fas US ports dropped by 1¢ to 42.5¢/lb, with the index for Tense fas US ports looking slightly stronger at 43.6¢/lb after dropping by a penny.
Conflicting information about restarts and the spread of the coronavirus has left market participants unsure about the outbreak’s impact on the supply chain. Most exporters are concerned with the ability of Chinese ports to get the material unloaded and shipped into mainland China as workers are still not willing to return to work despite businesses in most Tier 1 cities being allowed to resume operations since February 10.
The three-month LME aluminum price decreased from 79.54¢/lb on February 13, to 77.66¢/lb on Thursday.