Aluminium import prices in Asia for 6063 extrusion, A35 wheels, Taint/Tabor, Tense, Zorba 95/2 dropped while Talk gained in sync with the drop in the three-month aluminium contract on LME. Trades for ADC 12 to China and Japan remained slow, as Indian manufactures did not hear new offers from Chinese or Japanese buyers this week. China markets will be inactive on account of holidays around the Chinese New Year, which falls on Feb 12 but celebrations begin as early as Jan 23.
Domestic demand in India as well as from China and Japan for ADC 12, a raw material used by the auto alloy manufacturers, has slowed down since Oct. Last week, the prices sustained despite weak demand due to strained supply because of shortage of vessels and containers.
The official three-month aluminium contract settled at $1,994.5/mt from $2,009/mt, down by $14.5/mt.
The weekly Davis Indexes for Zorba 95/2 settled at $1,520/mt cfr India port, down by $111/mt, and for Zorba 99/3 settled at $1,575/mt cif China port, down by $125/mt. Chinese bids have come down drastically and with the reclassification standards in place, very few exporters are doing business with China.
The weekly Davis Indexes for 6063 extrusion remained unchanged at $1,660/mt cfr India port, and for Taint/Tabor dropped by $5/mt to settle at $1,530/mt cfr India port.
The weekly index A356 wheels dropped to $1,881/mt from $1,885/mt cdr India port, down by $4/mt. The index for Tense settled at $1,517/mt cfr India port, down by $3/mt from the prior week.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $3,869/mt cfr India port, up by $44/mt on soaring official three-month copper contract on LME. The official three-month copper contract settled at $8,059.5/mt on Jan 21, up by $43.5/mt from $8,016/mt on Jan 14.
The weekly Davis Index for ADC 12 settled at $2,100/mt cfr China port, down by $50/mt, while the index cfr Japan settled at $2,000/mt, down by $300/mt. Indian manufacturers reported thinning of purchase orders from Japan.