Import prices for 6063 extrusion 95/5, Talk or Aluminium- Copper radiators, Taint/ Tabor, Zorba 95/2, A356 wheels in Asia rose on the back of strong demand and a probable scarcity of aluminium scrap due to the winter season in the Northern hemisphere. The possibility of shutdowns due to the second wave of COVID-19 could also affect availability. Davis Index heard revised offers from Chinese and Japanese buyers for ADC 12 exported from India hinting at bullish demand for auto alloys in the Asian market.
The official three-month aluminium contract settled at $2,039.5/mt, up by $61.5/mt from $1,978/mt on Nov 26.
The Davis Index for Talk or Aluminium-Copper radiators settled at $3,514/mt cfr India port, up by $99/mt from $3,415/mt in the prior week. The index for Taint/Tabor settled at $1,405/mt cfr India, up by $37/mt from $1,368/mt cfr in the prior week. The index for Tense settled at $1,444/mt, up by $94/mt from $1,350/mt cfr India port prior week.
The weekly Davis Index for Zorba 95/2 settled at $1,535/mt up by $135/mt from $1,400/mt cfr India port, while the index for Zorba 99/3 settled at $1,665/mt cif China port, up by $239/mt. Demand for Zorba in the China market has started gaining momentum. The rise in container freight rates on the Los Angeles – India, Miami – China, Savannah-China route added further to the price rise for most of the scrap grades.
The weekly Davis Index for 6063 extrusions was at $1,570/mt cfr India port, up by $40/mt from $1,530/mt cfr India port prior week. The weekly Davis Index A356 wheels rose to $1,757/mt up by $72/mt from $1,685/mt cfr India port.
ADC 12 manufacturers reported new inquiries from China and Japan. The weekly Davis Index for ADC 12 cfr China settled up by $105/mt to $1,945/mt cfr China port. The Davis Index for ADC 12 settled at $2,020/mt cfr Japan, up by $75/mt from $1,945mt the prior week.