Aluminium import prices in Asia for Old Cast or Tense were stronger but dropped for 6063 extrusion scrap. The demand for Tense remained high in the market as manufacturers continued to ramp-up production to fulfil the domestic demand for auto alloys. Market participants reported that price direction is unclear even now, after three-month LME aluminium contract dropped by $48/mt from the prior week.
Chinese players resumed scrap purchase as the weekly Davis Index for Zorba 99/3 delivered cfr China port settled $69/mt, up to $1,215/mt on Friday from the prior week. Indian and South Asian participants remained active in the market.
Indian manufacturers resumed selling ADC 12 to China after it upped the purchase price. Meanwhile, Indian producers have also started selling ADC 12 to Japan. South Asian participants remained active in the market to fulfil export orders from China.
The Davis Index for 6063 extrusion scrap on Friday was down by $9/mt to settle at $1,341/mt cfr India port, while Index for A356 wheels (Troma) settled at $1,565/mt cfr India port, up by $18/mt from the prior week.
The official three-month aluminium contract settled at $1,735/mt, down by $48/mt from $1,783/mt on prior Thursday.
The weekly Davis Index for Taint/Tabor settled $1,190/mt cfr India port, down by $15/mt. The index for Tense settled at $1,208/mt cfr India port, up by $35/mt on sustained demand from alloy manufacturers in the market.
Sale of secondary aluminium ingots to China has picked up. The weekly Davis Index for ADC 12 cfr China settled at $1,700/mt, up by $52/mt.
The weekly Davis Index for ADC 12 cfr Japan settled at $1,800/mt, up by $52/mt. Davis Index heard trades at $1,880/mt for ADC 12 cfr Japan from South Asian manufacturers. Indian manufacturers did not confirm trades at these rates.