Import prices for aluminum extrusion, A35 wheels, Talk gained in Asia, while those for Tally, Tense, Taint/Tabor, Zorba 95/2 declined.
The three-month aluminum contract on LME rose by $17/mt to settle at $2,224/mt on June 24 from $2,407/mt on June 17. Demand was slow and buyers lowered bids. Traders, however, were unwilling to negotiate at those levels.
ADC 12 trades to Japan and China showed signs of recovery, and secondary manufacturers reported a rise in inquiries.
The weekly Davis Index for Zorba 95/2 settled at $1,604/mt cfr India port, down by $12/mt from the prior week. For Zorba 99/3, the index settled at $1,643/mt cif China port, down by $15/mt. Deals in China were very low due to the stringent checks at Chinese ports. Exporters stated they are repacking Zorba at Hong Kong port after polishing the material to meet the purity standards set by the Chinese customs department. The process is pending for a large volume of scrap, which is delaying deliveries.
The weekly Indexes for 6063 extrusions settled at $1,963/mt from $1,931/mt cfr India port, up by $32/mt, A356 wheels at $2,121/mt from $2,119/mt cfr India port prior week, up by $2/mt. Participants heard trades of extrusion 95/5 at $1,870/mt from $1,920/mt cfr India port in the prior week. Deals for clean extrusion were reported at $2,140/mt from $2,075/mt cfr India last week.
The weekly Index for Taint/Tabor fell by $5/mt to settle at $1,685/mt cfr India port prior week, and the index for Tense settled at $1,669/mt cfr India port, down by $21/mt. China has become inactive in the market, pressurizing scrap prices despite the marginal gain in the three-month LME aluminum contract.
The weekly Davis Index for ADC 12 cfr China settled at $2,210/mt cfr China port, down by $3/mt.
The weekly Index for ADC 12 settled at $2,240/mt cfr Japan, up by $10/mt.