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China boosts Indian alloy exports, zorba prices

Data: 2020-02-20
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China boosts Indian alloy exports, zorba prices

Indian exports of unwrought aluminum alloy to China surged in the last two months of 2019 as the country provided ADC12 to Chinese diecasters normally supplied by domestic smelters, leading to a surge in feedstock zorba scrap prices to India.


China imported 3,600t of aluminum alloy from India in December, up from none the prior year, according to China Customs. November imports were up to 1,400t, also from none the prior year. October imports were 85t, up from zero as well.


China's aluminum alloy imports spiked to 63,000t in December, doubling the November total and nearly eclipsing the full-year 2018 total of 74,000t. Full-year 2019 imports of alloy reached 216,000t, the highest since 2009.


Meanwhile, China's imports of aluminum scrap dropped to a 15-year low of 1.4mn t in 2019, down by 11pc from 2018.


Following strict government-imposed scrap import quotas in late 2019, China was unable to meet its demand for secondary aluminum alloy and turned to imports from India, Asia, Europe, the Middle East and, eventually, the US.


India was the fifth largest supplier of alloy to China in November and December. Malaysia was the largest, followed by South Korea, Vietnam and Thailand.


Increased alloy demand from China caused Indian smelters to import scrap raw material zorba more aggressively, boosting import prices to capture supply.


From November 2019 to late January 2020, the Argus cif India price for 95/2 zorba increased by 13.5¢/lb to 47.5¢/lb, signifying India's growing appetite for raw materials as it supplied alloy to China.


But coronavirus-related factory closures have hurt Indian exports of alloy to China in February, causing zorba prices to fall by 7¢/lb since late January.


Via: https://www.argusmedia.com/en/news/

Note: Content may be edited for style and length.




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