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

Asian aluminium import prices remained strong for 6063 extrusion scrap, A356 wheels (Troma), and Taint/Tabor as Indian manufacturers continued to ramp-up production to fulfil the domestic demand for auto alloys. Market participants reported Chinese players being nearly absent from the market, showing interest only if the deals are lower than those offered to other Asian participants. Indian and South Asian participants remained active in the market.


Indian manufacturers showed no interest in selling ADC 12 to China as domestic market fetched better prices, while South Asian participants jumped in. Chinese suppliers continued fulfilling Japanese demand for alloys.  


The weekly Davis Indexes for 6063 extrusion scrap Friday was up by $17/mt to settle at $1,350/mt cfr India port, while for A356 wheels (Troma) it settled at $1,560/mt cfr India port, up by $95/mt from the prior week. Davis Index heard deals at $1,615/mt for extrusion scrap of Middle East-origin and $1,580-90/mt for Australia/ New Zealand-origin in bales and briq. 


The official three-month aluminium contract settled at $1,781/mt, up by $2/mt from $1,779/mt on prior Thursday.


The weekly Davis Index for Taint/Tabor settled $1,209/mt cfr India port, up by $9/mt. The Index for Tense remained unchanged at $1,150/mt cfr India port on sustained demand from alloy manufacturers in the market. 


Sale of secondary aluminium ingots to China have reduced on pent-up domestic demand in India. The weekly Davis Index for ADC 12 cfr China was flat at $1,540/mt. Traders supplying ADC 12 to China from Egypt informed to have sold ADC 12 at $1,520/mt level. The weekly Davis Index for ADC 12 cfr Japan settled at $1,725/mt, up by $25/mt from the prior week.


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