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

Asian aluminium import prices for Extrusion, A35 wheels, Tally, Taint/Tabor, Zorba 95/2, Talk, Tense lowered amid slip of the three-month aluminium contract on LME. Buyers were largely away from the market in absence of a clear market direction. 


The three-month LME aluminium contract dropped by $40.5/mt to settle at $2,407/mt on Thursday from a week ago. Trading was slow and buyers lowered bids. Sellers, however, were reluctant to accept these levels. 


ADC 12 trades to Japan and China fell due to low appetite. The weekly Davis Indexes for Zorba 95/2 settled at $1,616/mt cfr India port, down by $62/mt from the prior week, while for Zorba 99/3 settled at $1,658/mt cif China port, up by $5/mt. 


Exporters reported weak trades with China due to the stringent checks at Chinese ports. Exporters shared that a few of them are repacking Zorba at Hong Kong port after cleaning the material as per the purity norms set by the Chinese customs department. Repacking in Hong Kong is getting delayed due to a heavy load of scrap.


The weekly indexes for 6063 extrusions settled at $1,931/mt cfr India port, down by $99/mt while for A356 wheels, settled at $2,119/mt cfr India port down by $48/mt. Participants heard trades of extrusion 95/5 at $1,850- 1,930/mt from $1920-1980/mt cfr India port prior week while trades for clean extrusion trades are taking place at $2,075/mt down from $2,100-2,250/mt cfr India, reported prior week. 


The weekly Index for Taint/Tabor slipped by $87/mt to settle at $1,690/mt cfr India port and the index for Tense settled $1,690/mt cfr India port, from the prior week, down by $45/mt. Few traders reported slow trades as participants are struggling with liquidity due to lockdown in several regions for the past few months in India. 


ADC 12 trades

The weekly Davis Index for ADC 12 cfr China settled $2,213/mt cfr China port, down by $62/mt. The weekly Index for ADC 12 settled at $2,230/mt cfr Japan down by $133/mt.

Leave a Reply

Your email address will not be published.