Aluminium import prices in Asia for Extrusion 95/5, Tally, Talk, Tense, Taint/Tabor, Zorba 95/2 and A35 wheels settled flat-to-up despite weak demand from Asian countries that are grappling with lockdowns.
The Japanese market is silent for ADC 12 deals, mainly due to semiconductor microchips’ shortage hitting the auto industry, coupled with the Golden Week holidays in the country that ended on May 5. A few manufacturers in India heard revised bids from China but only a few were able to cater to this demand due to production cuts caused by labour shortage in India.
The official three-month aluminium contract rose to $2,476/mt on May 6 from $2,397.5/mt on April 28, up by $78.5/mt.
The weekly Davis Indexe for Zorba 95/2 settled unchanged at $1,763/mt cfr India port, while for Zorba 99/3, it settled at $1,741/mt cif China port, down by $29/mt. Exporters reported containers’ jam at few Chinese ports because of delay in inspection process. Traders added that containers meeting custom specifications are being allowed inside China while the rest are being rerouted to other South Asian destinations.
The weekly Indexes for 6063 Extrusion settled at $1,925/mt cfr India port, up by $10/mt while for A356 wheels, it settled at $2,110/mt cfr India port, up by $62/mt.
The weekly Index for Taint/Tabor gained by $19/mt to settle at $1,778/mt from $1,759/mt cfr India port and the index for Tense settled unchanged at $1,730/mt cfr India port.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $4861/mt from $4,735/mt up by $126/mt cfr India port, the participants reported offers moving up but almost no trades are
The weekly Davis Index for ADC 12 cfr China settled at $2,288/mt, up by $68/mt cfr China port.
The weekly Index for ADC 12 cfr Japan settled at $2,349/mt, up by $69/mt as Japanese bids have gone silent.
Manufacturers reported production cuts as temporary laborers returned to their native towns following imposition of lockdowns in several regions. Market participants shared that the loading-unloading work at major ports is getting affected due to labour shortage.