US aluminum export prices increased across all grades, on continued strong demand from Asia. The higher export prices are applying upward pressure on domestic scrap prices, which in turn impact domestic smelters. 

 

The weekly Davis Index for 95/2 Zorba climbed by 1.9¢/lb to 49.9¢/lb fas US ports. Demand for aluminum scrap is strong from Asian smelters and is being driven by better automotive sales since private vehicles are being deemed safer than public transportation due to the COVID-19 pandemic.

 

The index for 99/3 Zorba moved up by 2.4/¢/lb to 51.7¢/lb fas. China’s demand for the grade is strong but finding those willing to ship it remains a struggle. The price increase reflects both, better demand for aluminum scrap and higher copper prices.

 

The Davis Indexes for Taint/Tabor and Tense moved up from last week, with Taint/Tabor increasing by 0.4¢/lb to 48.5¢/lb fas US ports and Tense rising by 1.7¢/lb to 47.1¢/lb fas. 

 

The Davis Index for aluminum-copper radiators increased by 2.1¢/lb, to $1.367/lb fas on the strong Comex market, which is hovering around $3/lb on the Comex exchange.

 

The official three-month LME aluminum contract increased by $2.50/mt to $1,779/mt on Thursday, from $1,776.50/mt on August 27.

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