Aluminium prices for domestic Tense (old cast) rose in Delhi and Mumbai due to shortage of several scrap grades in many parts of India. The bookings for imports of scrap grades resumed after the New Year break but importers faced challenges in securing supplies. Exporters reported a drop in collection amidst winter and the second wave of the COVID-19 infections in the Northern hemisphere.
Manufacturers across India witnessed slowing of demand from the auto sector. The market participants are optimistic that this demand would revive in February and March.
The weekly Davis Indexes for the domestic old cast (Purja/Tense) Tuesday settled at Rs120,375/mt del Delhi consumer, up by Rs3,375/mt ($46.07/mt) while in Mumbai it settled at Rs120,000/mt del consumer, up by Rs5,000/mt.
The weekly indexes for domestic Taint/Tabor (old sheet) settled unchanged at Rs119,000/mt del Delhi consumer while it rose by 1,000/mt to settle at Rs121,000/mt del Mumbai consumer.
The weekly Davis Indexes for domestic EC wire Tuesday settled at Rs154,333/mt del Delhi consumer, up by Rs2,333/mt, and at Rs155,000/mt del Mumbai consumer, up by Rs1,000/mt.
The weekly indexes for aluminium utensil settled at Rs128,000/mt del Delhi consumer, up by Rs2,000/mt, and at Rs125,000/mt del Mumbai consumer, up by Rs1,000/mt.
The three-month official contract of aluminium on LME dropped by $8/mt to settle at $2,008/mt on Jan 11 from $2,016/mt on Jan 4.