Aluminium import prices for Extrusion 95/5, Tally, Talk, Tense, Taint/Tabor, Zorba 95/2, and A35 wheels advanced despite weak demand from Asian countries amidst the lockdowns. The three-month aluminium contract on LME rose over the week. ADC 12 trades to Japan continue to remain low while only a few manufacturers heard bids from China. Imports have slowed as many countries continue to grapple with the resurgence of COVID-19 along with the depreciation of currencies against the USD.
The official three-month LME aluminium contract rose to $2,397.5/mt on April 28 from $2,337/mt April 21, up by $60.5/mt.
The weekly Davis Indexes for Zorba 95/2 settled at $1,763/mt cfr India port, up by $38/mt, while for Zorba 99/3 it settled at $1,770/mt cif China port, up by $70/mt.
The weekly Index for 6063 extrusion settled at $1,915/mt cfr India port, up by $15/mt while for A356 wheels, it settled unchanged at $2,048/mt cfr India port.
The weekly Index for Taint/Tabor gained by $19/mt to settle at $1,759/mt from $1,740/mt cfr India port and the index for Tense settled at $1,730/mt cfr India port, up by $30/mt.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $4,735/mt from $4,380/mt, up by $355/mt cfr India port.
ADC 12 trades
The weekly Davis Index for ADC 12 cfr China settled at $2,220/mt cfr China port, up by $20/mt.
The weekly Index for ADC 12 cfr Japan settled at $2,280/mt, up by $30/mt, as Japanese bids have gone silent since the past few days due to semiconductor chip’s shortage which has hit the auto industry.
Manufacturer’s reported production cuts in several regions as labourers returned to their home towns following the announcement of lockdown. This is also affecting loading and unloading work at major ports.