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

India’s imported aluminium scrap prices inched up by $15-40/mt, Friday, on a $35.5/mt rise in the official three-month LME aluminium contract from a week ago. Trades were, however, thin as the rupee depreciated against the US$ from Rs71.8 on Feb 28 to Rs73.6 on Mar 6 as against US$1. 


The Davis Index for Middle East- origin aluminium scrap extrusion 6063 settled at $1,500/mt cfr India port, up by $15/mt from a week ago. The weekly index for Troma also increased by $30/mt to settle at $1,480/mt cfr India port.

Buyers held off bookings since Indian currency depreciated  by Rs1.8 from last Friday. Sellers continued to face a shortage of empty containers. This shortage is likely to ease soon as cargo from China has been released since port workers have returned to work.

 The Davis Index for Talk increased by $48/mt and settled at $2,741/mt cfr India port, Friday after the official three-month LME copper contract also rose by $48/mt from last Thursday. 


A $5-10/mt drop in global ferrous prices caused Zorba 95/2 cfr India port prices to drop by $20/mt and settle at $978/mt.

Indian sellers of secondary aluminium alloy continued to receive lower bids from Chinese buyers who were reluctant to raise import prices of ADC12 after China markets reopened. 


 The weekly Davis Index for ADC12 cfr China settled at $1,497/mt, down by $6/mt. Indian sellers of ADC12 received bids in the range of $1,450-1,460/mt from Chinese traders. End-users of the alloy bid at $1,520-$1,530/mt. 

 The official three-month LME aluminium contract settled at $1,726/mt, Thursday up by 2pc from a week ago.


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