India’s weekly imported aluminium scrap prices dropped by $5-15/mt, Friday, from a week ago, on a $20/mt drop in the official three-month LME aluminium contract.
Import prices for Tense, which had strong demand from Indian aluminium alloy makers for the past few weeks on Chinese ingot demand, dropped by $21/mt as the Davis Index for Tense settled at $1,104/mt cfr India, Friday, down from $1,125/mt a week ago. Tense still has strongest demand among all aluminium scrap grades in India.
Taint/Tabor also had strong demand from alloy producers. The Davis Index for Taint/Tabor settled at $1,113/mt cfr India port, Friday, down by $9/mt from a week ago.
Import prices for aluminium 6063 extrusion scrap and Tally both dropped by $7/mt from a week ago, as the Davis Index cfr India port, Friday, settled at $1,598/mt and $953/mt for each, respectively.
Weekly import price of Zorba 99/3 dropped by $15/mt, cif China, Friday, on a drop in LME coupled with a $10-15/mt drop in global ferrous scrap prices, as Turkey decreased ferrous scrap bookings on low rebar demand.
China’s export price of aluminium alloy ingots dropped by $30/mt to settle at $1,605/mt, fob China port, Friday on low demand from Japan.
The official three-month LME aluminium contract settled at $1,794/mt, down from $1814/mt from last Thursday.