Asian aluminium import prices for Taint/Tabor, 6063 extrusions were stronger but dropped for Tense. Sustained demand for scrap continued in the market as manufacturers ramped-up production to fulfil the domestic demand for auto alloys.
Chinese players resumed scrap purchase as the weekly Davis Index for Zorba 99/3 delivered cfr China port settled at $1,200/mt, down by $15/mt from $1,215/mt on prior Friday. Market participants shared that more scrap is being unloaded at Hong Kong port due to new norms for scrap imports in China.
Indian manufacturers resumed selling ADC 12 to China after it upped the purchase price. India has also begun selling ADC 12 to Japan but are struggling to negotiate the desirable price.
The weekly Davis Indexes for 6063 extrusion scrap on Friday settled at $1,394/mt up by $53/mt from $1,341/mt cfr India port, while for A356 wheels (Troma) settled at $1,557/mt, down by $8/mt from $1,565/mt cfr India port.
The official three-month aluminium contract settled at $1,770.5/mt Wednesday from $1,735/mt on prior Thursday.
The weekly Davis Index for Taint/Tabor settled $1,200/mt, up by $10/mt from $1,190/mt cfr India port. The Index for Tense settled at $1,200/mt down by $8/mt from $1,208/mt cfr India port on prior Friday.
Sale of secondary aluminium ingots to China has picked-up. The weekly Davis Index for ADC 12 cfr China settled at $1,750/mt, up by $50/mt and cfr Japan settled at $1,797/mt, down by $3/mt.
Davis Index heard trades at $1,890/mt for ADC 12 cfr Japan from South Asian manufacturers for November shipments, but Indian manufacturers claimed to have received offers as low as $1,720/mt cfr Japan port.