India’s weekly imported aluminium scrap prices remained unchanged from the previous week amid an extended nation-wide lockdown. Scrap prices were flat despite a 3.2pc increase in the official three-month LME aluminium contracts.
The Davis Indexes for 6063 extrusion aluminium scrap and Troma Friday remained unchanged at $1,292/mt and $1,268/mt cfr India port, respectively. Lockdown restrictions are expected to ease from April 20. Indian importers plan to resume bookings only after gaining details about government’s selective resumption program.
The Davis Index for Talk settled at $2,298/mt cfr India port, up by $56/mt with support from the official three-month LME copper contracts which rose by $129/mt from a week ago. Buyers, however, stayed away from trading as the domestic market lacked any sign of demand recovery.
The weekly index for ADC12 fob China dropped by $30/mt, Friday due to continued decline in demand from Japanese automakers as they curtailed production capacity amid the COVID-19 outbreak.
The official three-month LME aluminium contract settled at $1,514/mt, Thursday, up by $47/mt from the previous week.