Aluminium import prices in Asia for 6063 extrusions 95/5, Talk or aluminium- copper radiators, Taint/ Tabor, Zorba 95/2, A356 wheels rose as Asian buyers struggled to secure scrap amidst container and vessel shortage faced by exporters in the US.
Davis Index heard that buyers are bidding for lower prices, but importers are reluctant to confirm the trades at those levels. Chinese buyers revised their bids for ADC 12 from India, while Japanese offers remained unchanged from the prior week.
Davis Index heard that China is also revising bids to secure high-grade scrap supply but exporters in US and Europe are cautious about the custom standards set down by the Chinese.
The official three-month aluminium contract settled at $2,042/mt on Dec 10, up by $2.5/mt from $2,039.5/mt on Dec 3. Participants reported strong demand for the scrap.
The weekly Davis Index for Talk settled at $3,633/mt cfr India port, up by $119/mt while the index for Taint/Tabor settled at $1,450/mt cfr India port, up by $45/mt. The Index for Tense settled at $1,447/mt cfr India port, up by $3/mt.
The weekly Davis Indexes for Zorba 95/2 settled at $1,578/mt cfr India port, up by $43/mt, and for Zorba 99/3 settled at $1,670/mt cif China port, up by $5/mt. With Chinese participants showing enthusiasm in buying scrap, prices for the grades used as raw material by auto alloy manufacturers in South East Asia grew from the prior week.
The weekly Davis Index for 6063 extrusions rose to $1,596/mt cfr India port, up by $26/mt while the weekly index for A356 wheels rose to $1,775/mt cfr India port, up by $18/mt.
ADC 12 manufacturers reported new enquiries from China and Japan. The weekly Davis Index for ADC 12 cfr China settled at $2,020/mt cfr China port, up by $75/mt. The weekly Davis Index for ADC 12 cfr Japan settled unchanged at $2,020/mt.