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

India’s weekly imported aluminium scrap market remained subdued on a $17.5/mt drop in the official three-month LME aluminium contract in addition to low demand in the domestic market.


The weekly Davis Index for 6063 aluminium extrusion scrap Friday dipped to $1,268/mt cfr India port, down by $24/mt from a week ago. The weekly index for Troma settled at $1,260/mt cfr India port, down by $8/mt. LME aluminium, unlike LME copper, has not shown any signs of recovery in the past 3-4 months, failing to provide a boost to the aluminium scrap market which has already been affected by the global oversupply of primary aluminium in addition to the slowdown triggered by the COVID-19 pandemic.


The weekly index for Zorba 99/3 settled at $992/mt, cif China port, up by $24/mt on strong demand from the domestic industry for ADC12. China is facing a shortage of secondary alloy as imports from countries such as India have almost stopped due to lockdowns. The weekly index for ADC12 remained unchanged at $1,400/mt fob China on Friday.


The official three-month LME aluminium contract settled at $1,469/mt, Thursday, down by 1.2pc from a week ago.

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