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

US aluminum export prices were stronger across most grades, as Indian buyers remained active in the aluminum market. The lack of buyers from the Southeast Asian markets is slowing down the volumes to those destinations and could set a ceiling for US export pricing moving forward.


The weekly Davis Index for 95/2 Zorba jumped by 1.4¢/lb to 43.2¢/lb fas US port on Thursday. Demand for this grade is more robust in the Indian market that continues its re-opening efforts. Indian smelters initially focused their buying efforts on the domestic market but fell short for various grades because of which, they have now turned to imports to fill those gaps. 


The index for 99/3 Zorba, a grade that is more popular in Southeast Asia, declined by 0.4¢/lb to 43.9¢/lb fas as that market is filling up quickly with China out of the contention and suppliers awaiting clarification on its new September waste restrictions and their impact on scrap.


The Davis Indexes for Taint/Tabor and Tense were both higher compared to last week’s indexes, with Taint/Tabor increasing by 0.4¢/lb to 44.3¢/lb fas and Tense moving up by 1¢/lb to 43.9¢/lb fas. 


The index for aluminum-copper radiators increased by 0.6¢/lb, to $1.303/lb fas US port on the weaker, but relatively steady, Comex market that continues to hover just below its peak for 2020.


The official three-month LME aluminum contract increased by $15.5/mt up from $1,758.5/mt on August 6 to $1,774/mt.

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