Prices for imported 6063 extrusions, 95/5, Talk or aluminium- copper radiators, Taint/ Tabor, Zorba 95/2, and A356 wheels rose despite a marginal drop in the three-month aluminium contract on LME. Asian buyers struggled to secure scrap amid container and vessel shortage faced by exporters in the US. Chinese buyers revised their bids for ADC 12 purchases from India. Offers for Japanese ADC 12 also rose from the prior week as the cost of raw material continued to rise.
Chinese buyers also revised bids to secure high-grade scrap, but exporters in the US and Europe remained cautious considering the standards for custom clearance. Davis Index also heard about shipments to India and other South Asian countries getting delayed. Few market participants also state that the demand for the raw material used to manufacture auto alloys has slowed since November.
The official three-month aluminium contract settled at $2,041.5/mt on Dec 17, down by $0.5/mt from $2,042/mt on Dec 10. Participants reported strong demand for aluminum scrap.
The weekly Davis Index for Talk or aluminium-copper radiators settled at $3,688/mt cfr India port, up by $33/mt from $3,633/mt in the prior week. The index for Taint/Tabor settled at $1,506/mt cfr up by $56/mt from $1,450/mt cfr India port from the prior week, while that for Tense settled at $1,500/mt, up by $53/mt from $1,447/mt cfr India port prior week.
The weekly Davis Index for Zorba 95/2 settled at $1,588/mt up by $10/mt from $1,578/mt cfr India port. The weekly Davis Index for Zorba 99/3 settled at $1,680/mt cif China port, up by $10/mt.
The weekly Davis Index for 6063 extrusions rose to $1,615/mt from $1,596/mt, up by $19/mt cfr India port. The weekly Davis Index A356 wheels was at $1,815/mt up by $40/mt from $1,775/mt cfr India port.
ADC 12 manufacturers reported new inquiries from China and Japan. The Davis Index for ADC 12 cfr China settled at $2,150/mt, up by $130/mt from $2,020/mt cfr China port prior week.
The Davis Index for ADC 12 cfr Japan settled at $2,240/mt, up by $240/mt from the prior week