The weekly US aluminum export prices rose further across most grades, on continued strong demand from Asia. However, prices for segregated alloys moved down as domestic demand for those grades kept the material stateside.
India continues to import secondary alloys to process and move them to other destinations, and this week was no exception.
The weekly Davis Index for 95/2 Zorba was higher by 1.3¢/lb at 52¢/lb on Thursday. The index for 99/3 Zorba increased by 0.6¢/lb to 52.8¢/lb fas. China has stepped back into the market after releasing another batch of import quotas, allowing 120,000mt of aluminum into the Asian nation. However, many shippers remain concerned about being held up at Chinese ports.
The Davis Indexes for Taint/Tabor and Tense were both higher compared to last week, with Taint/Tabor increasing by 0.5¢/lb to 52.5¢/lb fas and Tense moving up by 0.7¢/lb to 52¢/lb, fas US ports. The increase in pricing for these two traditional aluminum export grades is supported by strong demand for the ADC12 secondary aluminum alloy, which is being offered at $1,750/mt delivered Japan consumer, with little push back.
The Davis Index for aluminum-copper radiators decreased by 6.5¢/lb, to $1.33/lb on the weak Comex market, which dropped below the $3/lb mark this week.
The official three-month LME aluminum contract decreased by $46/mt to $1,735/mt on Thursday, from $1,781/mt on September 17.