Aluminium import prices in Asia rose as the three-month aluminium contract on LME gained from the prior week. The trades for ADC 12 to China gained momentum while demand from Japan continued to be slow on the back of the semiconductor chip shortage in the Island country. Indian manufactures are getting new offers from Chinese buyers.
Market participants shared that the domestic demand for the input material used by the auto alloy manufacturers has picked-up after three months. The alloy exporters to China are active in the market. Importers are still grappling with container shortage, which may ease after Feb15, but freight charges are likely to stay high.
The official three-month aluminium contract rose to $2,080.5/mt from $1,984/mt up by $96.5/mt
The weekly Davis Index for Zorba 95/2 settled at $1,521/mt India port, up by $43/mt from the prior week. Bids from China are absent as the country is celebrating the Lunar New Year. Exporters shared that scrap material en route to China is being reprocessed at Hong Kong and Malaysian ports.
The weekly Davis Index for 6063 extrusion settled at $1,633/mt cfr India port, up by $23/mt. The weekly Indexes for Taint/Tabor rose by $52/mt to settle at $1,525/mt cfr India port and for A356 wheels rose to $1,888/mt cfr India port, up by $42/mt. The index for Tense settled at $1,500/mt cfr India port, up by $53/mt from the prior week.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $3,979/mt cfr India port, up $266/mt.
The weekly Davis Index for ADC 12 increased by $28/mt to $2,029/mt cfr China port and up by $25/mt to settle at $2,100/mt cfr Japan port.