Aluminium import prices in Asia were stronger for 6063 extrusion scrap and Tense as manufacturers continued to ramp-up production to fulfil demand for auto alloys. Market participants reported scrap prices starting to flatten in what can be termed as market fatigue following the rise witnessed in the last few weeks.
Chinese players were nearly absent from the market while Indian and South Asian participants remained active.
Indian manufacturers resumed selling ADC 12 to China after it China upped the purchase price, and also began selling it to Japan.
South Asian participants remained active in the market to fulfil export orders from China while Chinese suppliers continued to cater to Japan’s sustained demand for alloys.
The Davis Index for 6063 extrusion scrap Friday was up by $10/mt to settle at $1,350/mt cfr India port, while the Index for A356 wheels (Troma) settled at $1,543/mt cfr India port, down by $17/mt from the prior week.
The official three-month aluminium contract settled at $1,783/mt up by $2/mt from $1,781/mt on prior Thursday.
The weekly Davis Indexes for Taint/Tabor settled $1,205/mt cfr India port, down by $4/mt from the prior week and for Tense settled at $1,173/mt cfr India port, up by $23/mt on sustained demand from alloy manufacturers.
Sale of secondary aluminium ingots to China has picked-up. The weekly Davis Index for ADC 12 cfr China settled at $1,648/mt, up by $108/mt.
The weekly Davis Index for ADC 12 cfr Japan settled at $1,748/mt, up by $23/mt while trades were heard at $1,820/mt for ADC 12 cfr Japan from South Asian manufacturers. Indian manufacturers, however, did not confirm trades at these rates.