India’s weekly imported aluminium scrap prices remained flat this week. Lack of clarity over reopening of Chinese markets failed to give sellers and buyers a price direction. Though the LME aluminium prices dipped in the week, increased freight charges due to lack of empty containers kept prices unchanged.
The weekly Davis Index for imported Talk settled at $2,795/mt cfr India port, Friday, up by $20/mt. Indian traders and mills received offers in the range of $2,820-2,850/mt from the US, but buyers bid in the range of $2,720-2,750/mt. Material from South-east Asia was offered at $2,960-3,000/mt, higher than the US prices. Bids were at $2,860-2,900/mt as buyers refused to match these prices. Sellers cited higher freight rates caused by shortage of empty containers. The Davis Index for Tally also rose by $15/mt from a week ago, to settle at $890/mt cfr India port, Friday.
The Davis Index for weekly imported Taint/Tabor settled at $1,035/mt cfr India port Friday, down by $8/mt from a week ago, while the Index for Troma settled at $1,473/mt cfr India port Friday, down by $7/mt from a week ago.
The weekly index for Zorba 95/2, however, rose by $5/mt from a week ago, to settle at $1,005/mt cfr India port, Friday on a $5-10mt increase in global ferrous prices.
The official three-month LME aluminium contract settled at $1,715/mt Thursday, down by $12.5/mt from a week ago.
Secondary aluminium alloys
Some Indian sellers of secondary aluminium alloys started receiving bookings from China, while other regular suppliers who sold ADC12 to China before the coronavirus outbreak still haven’t received any inquiries. The Davis Index for ADC12 cfr China settled at $1,590/mt, Friday, up by $65/mt from a week ago.
China’s ADC12 manufacturers are resuming production. The Davis Index for ADC12 fob China settled at $1,580/mt, Friday, down by $10/mt from a week ago.