US aluminum export prices increased across most grades, on strong demand from Asia. However, segregated alloys for the export market moved higher in response to US domestic price pressure. India continues to move secondary alloys into other countries, making it a key destination for exports, with Japan leading by pricing.
The weekly Davis Index for 95/2 Zorba was flat at 52¢/lb fas US ports while 99/3 Zorba held at 52.8¢/lb fas. China has stepped back into the market by releasing another batch of import quotas, but shipping lanes still present a problem for the Asian nation. The longer China waits to release guidelines for its waste reclassification, the more nervous suppliers will become, making them less likely to ship material into Chinese ports.
The Davis Indexes for Taint/Tabor and Tense were also flat with the former indexing at 52.5¢/lb fas and the latter staying at 52¢/lb, fas US ports.
The index for 6063 new bare scrap, however, climbed by 1.3¢/lb to 75.3¢/lb fas, while A356 wheels took the most significant step forward, rising by 2.2¢/lb to 67¢/lb fas US ports.
The Davis Index for aluminum-copper radiators increased by 5.5¢/lb, to $1.385/lb fas on the more robust Comex market, which rose back above the $3/lb mark this week.
The official three-month LME aluminum contract decreased by $19/mt to $1,716/mt on Thursday, from $1,735/mt on Sep 24.
Traditional secondary export-grade pricing has leveled off with more volumes and export offers from US suppliers. However, the domestic secondary smelters in the country have strong expectations for October. Once again, they could trigger a run for aluminum scrap prices, both domestically and in exports if US smelters step into the market with more vigor.