Weekly US aluminum scrap export prices fell for most grades on Thursday as the semiconductor shortage in Japan triggered lower consumption of secondary alloys and in turn, scrap, in Asia.
Some exporters reported lower material availability despite improving scrap supply for secondary grades in the domestic market. Freight costs remain comparatively higher, up around 20-30pc from December. Apart from the Suez Canal incident, port congestion in Long Beach, California also hampered some trades.
The weekly Davis Index for Taint/Tabor fell by 0.6¢/lb to 71.2¢/lb fas while Tense dropped by 1.4¢/lb to 70¢/lb fas.
Zorba 95/2 increased by 0.7¢/lb to 73.7¢/lb fas. The index for Zorba 99/3, on the other hand, fell by 3.7¢/lb fas as Chinese buyers stepped back from the market due to high inventories.
A356 wheels slipped by 0.4¢/lb to 86.5¢/lb fas while the index for 6063 extrusion rose by 5.5¢/lb to 96¢/lb fas due to extremely tight extruded scrap supply in the domestic market.
The official LME cash price settled Thursday at $2,212.50 ($1/lb), up by $4.50/mt from Mar 26.