US export aluminum scrap prices trended sideways this week amid low activity from the Asian market.
The weekly Davis Index for Taint/Tabor fell by 1¢/lb to 74¢/lb fas US port while Tense rose by 0.3¢/lb to 73¢/lb fas. The index for mill-grade scrap A356 wheels was flat at $1.01/lb fas and 6063 clean, bare extrusion fell by 0.5¢/lb to $1.035/lb fas.
Meanwhile, the weekly index for Talk settled at 2.075¢/lb fas, down 9.5¢/lb from last week as Comex copper nosedived on Tuesday. The Davis Index for Zorba 95/2 was flat at 72.5¢/lb fas US port while Zorba 99/3 also remained unchanged at 72¢/lb fas. Demand for zorba in Malaysia and India is robust, but no deals were heard this week.
The export market continues to take precedence over the domestic aluminum scrap for now. However, exporters are finding it increasingly difficult to find containers to ship their material. Historically, Asia exports more goods than it imports as the summer months wane. This would translate to lower import quantities towards the end of the year in countries like India, Malaysia, and South Korea.
The official LME Aluminium cash price closed Thursday at $2,544/mt ($1.15/lb), down $58/mt from Aug 12.