Asia aluminium import prices were strong across the majority of grades with China releasing its 11th batch of scrap quota recently. Indian suppliers actively catered to domestic demand buoyed by the auto industry while South Asian participants remained active to fulfil alloy export orders, mainly to China.
The Davis Index for 6060 extrusion scrap Friday rose by $45/mt to settle at $1,510/mt cfr India port, while the index for A356 wheels (Trona) settled at $1,463/mt cfr India port, up by $8/mt from the prior week.
The official three-month aluminium contract settled at $1,791.5/mt on Thursday, up by $17.5/mt from $1,774/mt the prior week.
The weekly Davis Index for Taint/Tabor settled $1,173/mt cfr India port, up by $73/mt from the prior week while the Index for Tense settled at $1,082/mt cfr India port up by $7/mt on adequate supply in the market.
Sale of secondary aluminium ingots to China have reduced on pent-up domestic demand in India. Manufacturers are not ready to export ingots below $1,525-1550/mt level.
The weekly Davis Index for ADC 12 cfr China settled at $1,530/mt,up by $32/mt from the prior week. Market participants confirmed few trades at this level. Many manufacturers demanded $1,600/mt cfr China levels, at which a few trades have been confirmed.