The Davis Index for weekly imported Taint/Tabor settled at $1,043/mt cfr India port Friday, down by $4/mt from a week ago. Buyers who are importing Taint/Tabor with 2-3pc attachment at $1,000-1,030/mt, started curtailing production as the selling price of aluminium ingots in the domestic market fell by $100-200/mt in the last few months. Despite sustained demand, prices declined due to strong competition.
The weekly Davis Index for imported Talk settled at $2,775/mt cfr India port, Friday, down by $25/mt from a week ago. Indian buyers imported Talk from Europe in the range of $2,700-2,750/mt and at $2,750-2,800/mt from the US. Talk from Malaysia was priced in the $2,800-2,900/mt range. Despite its higher prices, producers preferred Talk from Malaysia for its shorter delivery period of one week.
After China, Singapore shut down to contain spread of Coronavirus making market participants fear a global recession. The weekly Davis Index for imported Tense fell by $13/mt from a week ago to settle at $1,027/mt cfr India port, Friday and the index for Tally settled at $875/mt cfr India port, Friday, down by $20/mt from a week ago.
The weekly index for Zorba 95/2, however, rose by $37/mt to settle at $1,000/mt cfr India port, on a $5-10/mt increase in global ferrous prices.
The official three-month LME aluminium contract settled at $1727.5/mt Thursday, up by $4/mt from a week ago.
Secondary aluminium alloys
Indian sellers of ADC12 struggled for competitive bids from Chinese buyers after China markets reopened this week. Chinese buyers bid in the range of $1,480-1,500/mt while Indian sellers held offers at $1,550/mt at the minimum. China was buying ADC12 at $1,570/mt before it went on break late January. Aluminium producers are making cautious buying decisions as the threat of the virus is yet to wane out fully.