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

US aluminum export prices fas US ports increased around a penny for each grade but the past two weeks’ rally has stalled on a lack of quotas for materials into China.  


The weekly Davis Index for 95/2 Zorba fas US ports increased by a penny to 38.9¢/lb while 99/3 Zorba rose by 0.8¢/lb to 41.8¢/lb fas.  


Exporters were unwilling to take offers that were above the one penny increases for both grades from scrap dealers, citing the lack of quotas into China and concern over the newly announced waste material restrictions into the Asian nation that are set to go into effect on September 1. 


The Davis Index for aluminum-copper radiators rose by 4.9¢/lb, to $1.305/lb on the strong Comex market, which increased by 7¢/lb, at $2.90/lb at Thursday’s close.


The indexes for Taint/Tabor, and Tense went up by a penny each to 42.5¢/lb fas and 43.7¢/lb fas, respectively.


The official three-month LME aluminum contract decreased by $26.5/mt to close Thursday at $1,660.50/mt up from $1,687/mt on July 9.


China’s decision to return to the market pushed both export and US domestic pricing higher. However, consumers have been able to hold off further price increases as volumes remain limited because of aluminum quotas to the Asian nation. Buyers are focusing on suppliers who have been consistently supporting them over time, with both parties expecting volumes to increase with the next batch of quotas if market fundamentals remain unchanged. 

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