India: Imported aluminium scrap prices exhibit mixed trends, moderate transactions seen

The imported aluminium scrap market in India experienced a mixed trend this week across different regions. The availability of offers has been limited, primarily due to the volatility in futures, thereby leading to a decrease in buying inquiries. As a result, transactions have remained moderate in specific areas.

The subdued nature of the metal futures exchange has dampened the interest of market participants. Nevertheless, there has been a slight resurgence in the futures market of late, which could potentially influence both trading volumes and price trends.

The global aluminium market has recently encountered fluctuations, resulting in a bid-offer disparity in the market.

Meanwhile, the US-origin aluminium talk prices dropped by $20/t w-o-w to $4,420 CIF West coast India today. The remaining grades of US-origin scrap saw a decline of $20-25/t w-o-w. However, UK-origin wheel prices witnessed a slight hike of $5/t and Middle East-origin taint tabor decreased by $65/t w-o-w.

Domestic scrap market scenario

Despite an upswing in futures, the domestic aluminium scrap market in India has managed to maintain its stability. However, buyers are currently adopting a cautious approach, showing a preference for making modest purchases in smaller quantities. Notably, the prices for tense scrap settled at INR 154,000/t, while utensil prices reached INR 168,000/t, both exw Delhi (excluding GST).

Additionally, reliable sources have indicated that there is scarcity of domestic scrap materials.

China's silicon prices up

China's silicon prices stood at $1,890/t CIF Mundra, increasing by $70/t w-o-w.

Recent deals

• Around 100 tonnes (t) of aluminium Zorba 95/3 tense from the UK were sold to India, Mundra CFR, at $1,780/t, last week.
  
  
• Around 2 containers of aluminium talk from Kuwait were sold CFR Mundra at $4,250/t recently. Similarly, a UAE-origin wheel scrap deal concluded at $2,200/t, CFR West Coast, respectively.
  
  
• A total of 2 containers of aluminium talk scrap of Malaysia origin traded at $4,450/t, CFR Mundra, recently.
  
  

Outlook

The aluminium scrap market remains uncertain, with fluctuations influenced by major futures exchanges and bearish supply and demand dynamics.