US aluminum export prices for LME sensitive scrap moved lower in line with the LME market, while traditional export grades pushed higher over a short trading week.
The weekly Davis Index for 95/2 Zorba moved up by 1.1¢/lb to 69.4¢/lb fas US ports while 99/3 Zorba rose by 1.6¢/lb to 74.4/lb fas. Both grades have moved higher, but to a smaller extent than the past weeks. Zorba buyers are banking on increased supply availability in the near term because of the increase in ferrous scrap pricing globally.
The index for Taint/Tabor and Tense both jumped this week, with Taint/Tabor indexing at 66¢/lb fas US ports, higher by 0.7¢/lb, and Tense moving to 67¢/lb fas, better by 0.5¢/lb.
The weekly index for 6063 new bare scrap stepped down by 2¢/lb to 90¢/lb fas, while A356 wheels inched up by 0.2¢/lb to 81.5¢/lb fas US ports, due to cast availability in the scrap market.
The official three-month LME Aluminium contract decreased by $32.50/mt to $2,008.50/mt on Wednesday, from $2,041/mt on Dec 17.