US export aluminum scrap prices rose by a cent or more as demand from Asia surged. Japanese auto buyers continued to bid higher for ADC12, leading to many countries buying scrap to remelt ingots on priority.

 

The weekly Davis Index for Taint/Tabor rose by 0.8¢/lb to 75.8¢/lb fas US ports while Tense prices increased by 0.5¢/lb to 76.5¢/lb fas. High offers for Tense were heard at around 80¢/lb fas as Chinese and South Korean buyers are urgently looking for 2pc attachment scrap. 

 

Zorba prices also increased this week with the index for 95/2 at 69.3¢/lb fas US port, up 1.3¢/lb after buyers in India began to raise bids after a month of flat pricing in the subcontinent. However, the 99/3 index was flat at 70.3¢/lb amid little activity from Chinese buyers. 

Aluminum radiator scrap prices also inclined by 1.2¢/lb to 69¢/lb fas. A lack of mill-grade scrap including clean wheels and extrusions has also seen prices rising by 2¢/lb for both grades. 

 

The official LME Aluminium cash price settled Thursday at $2,556.50/mt, up by $107.5/mt from Jul 22.

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