US aluminum export prices increased across most grades, on continued strong demand from Asia, and as India continues to move secondary alloys into other countries. The Asian nation adding Japan to its list this week.
The weekly Davis for 95/2 Zorba was higher by a penny at 50.7¢/lb fas US port on Thursday while 99/3 Zorba moved up by 0.3/¢/lb to 52.2¢/lb. China’s scrap buying activity has decreased, but the Asian country has produced more primary aluminum in the first eight months of 2020 than the same period in 2019.
The Davis Indexes for Taint/Tabor and Tense were higher compared to last week, with Taint/Tabor increasing by 2.8¢/lb to 52¢/lb fas US port and Tense moving up by 1.8¢/lb to 51.3¢/lb fas. The rise in prices for these two traditional aluminum export grades is supported by strong demand for the ADC12 secondary aluminum alloy, which has found a new home in Japan.
The Davis Index for aluminum-copper radiators increased by 1.5¢/lb, to $1.395/lb on the strong Comex market, which hovers above the $3/lb on the Comex exchange.
The official three-month LME aluminum contract decreased by $2/mt to $1,781/mt on Thursday, from $1,783/mt on September 10.