Asia aluminium import prices for A35 wheels, Taint/Tabor, Tense, Zorba 95/2, Talk, Tally rose despite the slide in the three-month aluminium contract on LME from the prior week on the back of the scarcity of scrap as imports remained slow in the past few weeks. The trades for ADC 12 to Japan slowed down, few manufacturers heard a drop in ADC 12 bids from China in sync with the drop in LME prices for aluminium.
Aluminium scrap buyers remained on the sideline watchful of the changes on LME, hoping that the scrap prices would trend down soon. After talks of a commodity supercycle, base metals prices have dropped, globally, this week.
Alloy exporters said, no new bids from Japanese buyers were heard this week. Importers continued to struggle with vessel delays and container shortage. Most buyers are waiting for scrap prices to sync with LME and avoiding booking in the absence of price clarity.
The official three-month LME aluminium contract dropped to $2,177.5/mt on March 4 from $2,227/mt on Feb 25, down by $49.5/mt. The prices on LME dropped after more than a month. In the last two preceding weeks, the three-month aluminium contract gained by $66/mt and $80.5/mt from the preceding weeks.
The weekly Davis Index for Zorba 95/2 settled at $1,700/mt from $1,686/mt cfr India port, up by $14/mt from the prior week. The weekly Davis Index for Zorba 99/3 settled at $1,700/mt from $1,765/mt up cif China port, down by $65/mt from the prior week. Zorba prices dropped in China as manufacturers preferred to wait as three-month LME Copper prices dropped by $805.5/mt at $8,757/mt on March 4 from $9,562.5mt on Feb 25. In the preceding week, the three-month LME copper price gained by $931.5/m on Feb 25.
The weekly Davis Index for 6063 extrusion settled at $1,763/mt from $1,695/mt cfr India port prior week up by $68/mt. Others reported trades of 6063 extrusion at $1,775/mt cfr India port, but no all importers confirmed the escalation in the extrusion prices.
The weekly Davis Index for Taint/Tabor rose by $26/mt to settle at $1,610/mt from $1,584/mt cfr India port the prior week. The weekly Davis Index A356 wheels rose to $1,975/mt from $1,940/mt up by $35/mt cfr India port the prior week. The index for Tense settled at $1,633/mt from $1,563/mt up by $70/mt from the prior week.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $4,431/mt from $4,337/mt up $94/mt cfr India port from the prior week. Few trades heard at $4,400-4,450/mt. Demand was muted as importers took a brief pause to analyse the price direction.
The weekly Davis Index for ADC 12 cfr China settled at $2,196/mt from $2,200/mt cfr China port prior week, down by $4/mt. ADC 12 exporters reported few bids at $2,250/mt level but no exporters confirmed trades at these levels.
The weekly Davis Index for ADC 12 cfr Japan settled at unchanged at $2,375/mt from the prior week as exporters refused to lower offers in line with the LME.