Aluminium import prices for Extrusion 95/5, Tally, Tense, Zorba 95/2, and A35 wheels gained while that of Talk, Taint/Tabor dropped driven by weak demand from Indian buyers due to lockdowns.
The three-month aluminium contract on LME dropped from the prior week while. ADC 12 trades to Japan showed signs of revival. A few manufacturers in India reported Chinese buyers getting aggressive to import ADC 12.
The official three-month aluminium contract dropped to $2,436/mt on May 13 from $2,476/mt on May 6, down by $40/mt.
The weekly Davis Indexes for Zorba 95/2 settled at $1,778/mt cfr India port, up by $15/mt, while for Zorba 99/3, it settled at $1,800/mt cif China port, up by $59/mt.
Exporters reported containers’ jam at a few Chinese ports because of delay in inspection process. Traders added that containers meeting custom specifications are being allowed inside China and the rest are being diverted to other South Asian destinations.
Participants reported that only few containers carrying Zorba were able to get custom approval from the Chinese authorities. Due to the stringent checking of raw materials, Chinese auto component manufacturers have turned to other Asian countries to import ADC 12.
The weekly Indexes for 6063 extrusion settled at $2,005/mt cfr India port, up by $80/mt while for A356 wheels, it settled at $2,125/mt cfr India, up by $15/mt.
The weekly Index for Taint/Tabor dropped by $16/mt to settle at $1,762/mt cfr India port and the index for Tense settled at $1,758/mt cfr India port, up by $28/mt.
Few traders reported prices coming off in sync with the two-day slide in the three-month LME aluminium contract and added that buyers are not ready to purchase material at the offer price.
The weekly Davis Index for Talk or Aluminium-Copper radiators settled at $4,735/mt from $4861/mt down by $126/mt cfr India port. Offers moved up but trades were thin as buyers await offers to slide in sync with the aluminium contract on LME.
ADC 12 trades
The weekly Davis Index for ADC 12 cfr China settled at $2,375/mt, up by $87/mt cfr China port. The weekly Index for ADC 12 cfr Japan settled at $2,400/mt from $2,349/mt, up by $51/mt.
Secondary manufacturers in India reported renewed interest from Japanese buyers and reported that Chinese buyers too have become aggressive for ADC 12 imports. However, secondary units have cut production due to shortage of labourers due to lockdown.