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

Asia aluminium import prices for Extrusion, A35 wheels, Tally, and Taint/Tabor lowered while it gained for Zorba 95/2, Talk, Tense in absence of clear price direction in the market due to the volatility in the three-month aluminium contract on LME last week.

The three-month aluminium contract on LME dropped by $18.5/mt to settle at $2,402.5/mt on Thursday from $2,421/mt on May 27. Before that, the three-month aluminium contract zoomed up by $64/mt in just two sessions to settle at $2,485/mt on June 1. Responding to this volatility, market witnessed thin trades with buyers lowering bids and traders reluctant to lower offers just yet.

ADC 12 trades to Japan remained weak, with hardly any offers in the week that ended on Friday. Chinese buyers lowered offers for the imports of ADC 12.

The weekly Davis Indexes for Zorba 95/2 settled at $1,733/mt from $1,725/mt cfr India port, up by $8/mt, while for Zorba 99/3, it settled unchanged at $1,820/mt cif China port.

Trades with China remained thin due to the stringent checks at Chinese ports. Some exporters are repacking Zorba at Hong Kong port after cleaning the material as per the purity norms set by the Chinese customs department — a time-consuming process as getting empty containers in Hong Kong is not easy.

The weekly Indexes for 6063 extrusions settled at $2,032/mt cfr India port, down by $86/mt while for A356 wheels, it settled at $2,133/mt, down by $32/mt. Participants heard trades of extrusion 95/5 at $1,925-1,980/mt, down from $2,000/mt cfr India port last week while trades for clean extrusion trades are taking place at $2,100-2,150/mt, down from $2,200/mt cfr India.

The weekly Index for Taint/Tabor was down by $6/mt to settle at $1,749/mt cfr India port and the index for Tense settled at $1,735/mt cfr India port, up by $10mt.

 

ADC 12 trades

The weekly Davis Index for ADC 12 settled $2,345/mt from $2,350/mt cfr China port, down by $5/mt.

The weekly Index for ADC 12 cfr Japan settled unchanged at $2,350/mt.

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