Aluminium import prices in Asia for Extrusion 95/5, Tally, Tense, Zorba 95/2, A35 wheels, Talk and Taint/Tabor gained despite weak demand from Indian buyers and drop in the three-month LME aluminium contract. ADC 12 trades to Japan showed signs of revival while Chinese buyers continued aggressive imports of ADC 12.
Secondary manufacturers in India had to cut production due to unavailability of labourers amid lockdowns.
The official three-month aluminium contract dropped to $2,419/mt on May 21 from $2,436/mt on May 13.
The weekly Davis Indexes for Zorba 95/2 settled at $1,781/mt cfr India port, up by $3/mt, while for Zorba 99/3, it settled at $1,838/mt cif China port, up by $38/mt.
Exporters reported containers’ jam at a few Chinese ports due to stringent inspection of purity of scrap. Traders said getting empty containers in Hong Kong to transport cleaner scrap to China is becoming an issue. Only a few containers carrying Zorba were able to get customs approval from the Chinese authorities. Thus, Chinese auto component manufacturers have turned to other Asian countries for importing ADC 12.
The weekly indexes for 6063 extrusion settled at $2,048/mt cfr India port, up by $43/mt while for A356 wheels, it settled at $2,150/mt cfr India port prior week, up by $25/mt. Participants heard trades of extrusion 95/5 at $1950/mt cfr India port while for clean extrusion trades are taking place at $2,175/mt cfr India port.
The weekly indexes for Taint/Tabor rose by $1/mt to settle at $1,763/mt cfr India port and for Tense settled up at $1,760/mt cfr India port. Traders are waiting for a clear price direction amid the volatility in the three-month LME aluminium contract which tumbled on Thursday.
ADC 12 trades
The weekly Davis Index for ADC 12 cfr China settled unchanged at $2,375/mt cfr China port.
The weekly index for ADC 12 cfr Japan also settled unchanged at $2,400/mt.