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

Offers for imported aluminium scrap grades like Tense, Taint/ Tabor, Tally, Talk, 6063 Extrusion rose cfr India port driven by a $11/mt spike in the three-month LME aluminium contract. Prices also increased supported by improved demand for auto alloys in the overseas markets. The three-month aluminium contract gained $11/mt to settle at $2,600/mt on Aug 12, from $2,589/mt on Aug 5. 


ADC 12 deals with China and Japan have improved as Indian sellers showed a willingness to trade after offers rose. But buyers in China limited their purchases of aluminium scrap.


The weekly Davis Index for Zorba 95/2 settled at $1,686/mt cfr India port, down by $1/mt; while for Zorba 99/3, the index settled at $1,644/mt cif China port, down by $104/mt. Deals in China were very few due to the stringent checks at Chinese ports. For cleaned material, however, buyers were willing to pay a higher price.


The weekly Davis Index for Talk rose by $14/mt to settle at $4,806/mt cfr India port. Asking prices were at 51.5pc of the LME copper up from 51pc of the LME copper contract from the prior week, but buyers kept bids at 48-49pc.


The weekly index for 6063 extrusions settled at $2,228/mt cfr India port, up by $18/mt, while for A356 wheels, the index settled at $2,338/mt cfr India port, up by $63/mt. Some deals for Gulf-origin clean extrusion were reported at $2360- 2,400/mt cfr India, but not all buyers confirmed these levels.


The weekly Index for Taint/Tabor fell by $46/mt to settle at $1,805/mt cfr India port, and the index for Tense settled $1,755/mt cfr India port, up by $1/mt. Participants reported that cleaner Tense having 0-2pc attachment is available at $1,800-1,830/mt cfr India port. The rise in Taint/Tabor, Tense price driven by a revival in export demand for August and September shipments. 


ADC 12 trades

The weekly Davis Index for ADC 12 cfr China settled at $2,363mt cfr China port, up by $19/mt from a week ago. 


The weekly Index for ADC 12 cfr Japan settled at $2,413/mt, up by $27/mt. Manufacturers reported improved bids for ADC 12 at $2,380/mt cfr China for September shipment. But some sellers state they received bids at lower levels.

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