The weekly Davis Index for ADC 12 settled at Rs169,600/mt ex-works Mumbai producer, up by Rs267/mt ($3.60) as the resumption of production activities in the downstream sectors induced demand.
Migrated labours have also returned to their workplaces. Few die casters exporting auto components signed a contract to purchase ADC 12 at Rs172,000/mt ex-works Mumbai producer for the month of June. Die casters claimed that demand for auto components from the European countries and the US has continued to grow.
Alloy producers in Mumbai are hopeful that domestic demand and export orders will pick up in July. Some participants, however, shared that alloy prices may come under pressure on the recent slide in the aluminium prices on LME. The three-month contract for LME aluminium settled at $2,380/mt on June 18 from a week ago down by $97.5/mt.
The index for ADC 12 settled at $2,200/mt cfr China, down by $13/mt from last Friday and at $2,300/mt cfr Japan, up by $70/mt from a week ago.
The weekly Davis Index for ADC 12 settled at Rs164,000/mt ex-works Delhi producer, down by Rs5,000/mt. The weekly Index for LM6 settled unchanged at Rs191,000/mt ex-works Mumbai producer.