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

Asian aluminium import prices were stronger for Tense, Taint/Tabor and Zorba as Indian manufacturers continued to ramp-up production to fulfill domestic demand for auto alloys. Market participants reported that Chinese players are shying away from booking scrap as 11th batch of scrap quota limits got over last week. Indian as well as South Asian participants remained active in the market.


Indian manufacturers reduced export of ADC 12 to China as domestic market fetched better prices.  Other South Asian participants jumped in to fulfil export orders from China while Chinese suppliers catered to sustained Japanese demand for alloys.  


The Davis Index for 6063 extrusion scrap on Friday dropped by $187/mt to settle at $1,333/mt cfr India port, while Index for A356 wheels (Troma) settled at $1,465/mt cfr India port, down by $15/mt from the prior week. Davis Index heard deals at $1520/mt for extrusion scrap of Israel origin in bales and briq but other participants did not confirm trades at this level. 


The official three-month aluminium contract settled at $1,779/mt up by $12.5/mt from $1,766.50/mt from Thursday.


The weekly Davis Index for Taint/Tabor settled $1,200/mt cfr India port, up by $52/mt from the prior week. The Index for Tense settled at $1,150/mt cfr India port, up by $52/mt on sustained demand from alloy manufacturers.


Sale of secondary aluminium ingots to China have reduced on back of pent-up domestic demand in India. The weekly Davis Index for ADC 12 cfr China settled at $1,540/mt, down by $15/mt from the prior week. Market participants confirmed few trades at this level. while many manufacturers demanded $1,600/mt cfr China.

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