ADC 12 prices climbed up ex-Delhi and Mumbai producer on the back of the revival in domestic demand and resumption of exports to China and Japan, while the price of LM6 gained ex-Mumbai producer as the three-month official LME aluminium contract rose from the prior week. Manufacturers heard new bids for ADC 12 from China at $2,100/mt cfr China port, up by $71/mt from the prior week and $2,200mt cfr Japan port up $100/mt.
The weekly Davis Index for ADC 12 settled at Rs146,750/mt from Rs145,000/mt, up by Rs2,417/mt ($33.35/mt) ex-works Delhi producer from prior Monday on the back of the weak domestic demand. Few producers sold ADC 12 at Rs150,000/mt but not all producers confirmed sales at these levels on the back of weak demand in few regions. The manufacturers are hopeful that the prices may go up as a major auto producer in Northern India declared the purchase price for ADC 12 at Rs157,000/mt up from at Rs144,000/mt in Nov 2020.
The three-month contract for Aluminium rose by $69.5/mt to settle at $2,150.5/mt on Feb 19 from $2,081/mt on Jan 12. The old Cast import price rose by $30/mt to settle at $1,530/mt cfr India port on last Friday from the prior week. The Zorba 95/2 cfr India port settled at $1,588/mt up by$67/mt from the prior Friday. Davis Index heard prices further shooting up on Monday.
The weekly Davis Index for ADC 12 settled at Rs154,667/mt from Rs154,500/mt up by Rs167/mt ex-works Mumbai producer prior week. Die casters signed a contract to purchase ADC 12 at Rs156,000/mt in Feb 2021 down from Rs162,000/mt in January.
The weekly Index for LM6 settled at Rs174,500/mt from Rs168,167/mt, up by Rs6,333/mt($87.41/mt) ex-works Mumbai producer the prior week.
($1= Rs72.44)