Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Prices for imported Taint/Tabor, 6063 extrusion and wheels, dropped in Asia as supplies improved. Prices for Tense, however, rose amid continued demand from alloy manufacturers who are fulfilling orders by the domestic automobile industry.


Chinese buyers remained away from the market last week due to the National holiday from Oct 1 to Oct 8. More scrap is being unloaded at Hong Kong port due to new norms for scrap imports in China.


Indian manufacturers completed their pending ADC 12 export orders to China. But refrained from taking new orders as prices in the Indian market remain comparatively higher.  But some traders supplying auto alloys to China and Japan preferred catering to the overseas markets due to quicker payment terms compared to the domestic market.  


The Davis Index for 6063 extrusions, Friday, settled at $1,390/mt cfr India port, down by $4/mt from $1,394/mt cfr and the index for A356 wheels (Troma) settled at $1,541/mt cfr India port, down by $16/mt from $1,557/mt cfr prior week.


The official three-month aluminium contract settled at $1,802/mt, up by $31.5/mt from $1,770.5/mt on Sept 30.


The weekly Davis Index for Taint/Tabor settled at $1,188/mt, down by $12/mt from $1,200/mt cfr India port. The index for Tense settled at $1,201/mt cfr India port, up by $1/mt from $1,200/mt cfr on Oct 1.


Sales of secondary aluminium ingots to China have slowed. The weekly Davis Index for ADC 12 settled at $1,753/mt cfr China, up by $3/mt from $1,750/mt cfr, since manufacturers were not keen on renewing export agreements.  


The weekly Davis Index for ADC 12 settled at $1,810/mt cfr Japan, up by $13/mt from $1,797/mt cfr. Davis Index heard trades at prices in the range of $1,850-1,880/mt cfr Japan for ADC 12 from China. But these price levels were not confirmed by other market participants in Southeast Asian countries. Davis Index also heard offers for ADC 12 from India at $1,775-1,800/mt cfr Japan port. 

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