Offers for imported aluminum scrap grades like Tense, Zorba 95/2, and Zorba 99/3 in Asia rose driven by a $43.5/mt spike in the three-month LME aluminum contract. Prices also increased supported by improved demand for auto alloys in seaborne markets.
The three-month aluminum contract gained $43.5/mt to settle at $2,589/mt on Aug 5, from $2,545.5/mt on July 29.
ADC 12 deals with China and Japan have improved as Indian sellers showed willingness to sell material after bids increased. Buyers in China limited their purchases of aluminum scrap.
The weekly Davis Index for Zorba 95/2 settled at $1,687/mt cfr India port, up by $11/mt; while for Zorba 99/3, the index settled at $1,748/mt cif China port, up by $10/mt. Deals in China were very few due to the stringent checks at Chinese ports. For cleaned material, however, buyers were willing to pay a higher price.
The weekly Davis Index for Talk rose by $37/mt to settle at $4,792/mt cfr India port. Asking prices were at 51pc of the LME copper contract, but buyers kept bids at 48-49pc.
The weekly index for 6063 extrusions settled at $2,210/mt cfr India port, up by $48/mt, while for A356 wheels, the index settled at $2,275/mt cfr India port, up by $48/mt. Some deals for Gulf-origin clean extrusion were reported at $2,400/mt cfr India, but not all buyers confirmed these levels.
The weekly Index for Taint/Tabor fell by $14/mt to settle at $1,759/mt cfr India port, and the index for Tense settled $1,754/mt cfr India port, up by $7/mt. Participants reported that the demand for Tense is on a rise driven by a revival in export demand for August and September shipments.
ADC 12 trades
The weekly Davis Index for ADC 12 cfr China settled at $2,344mt cfr China port, up by $14/mt from a week ago.
The weekly Index for ADC 12 cfr Japan settled at $2,386/mt, up by $48/mt. Manufacturers reported improved bids for ADC 12 at $2,450/mt cfr Japan for September shipment. But some sellers state they received bids at lower levels.