Indian secondary manufacturers exporting ADC alloys to China and Japan reported a rise in bookings for the alloy for August shipments. The weekly Davis Index for ADC 12 settled at Rs172,333/mt ex-works Mumbai producer, up by Rs1,000/mt ($13.34/mt) from the prior week. While the index for the grade in Delhi settled at Rs166,667/mt ex-works Delhi producer, up by Rs1,667/mt ($22.24/mt).
The weekly Index for LM6 settled at Rs193,000/mt ex-works Mumbai producer, down by Rs500/mt ($6.67/mt). The participants reported thin trades driven by the subdued demand from the power sector due to the ongoing monsoon season.
Market participants in Mumbai and Delhi reported resumption of production activity but domestic demand remains slow. Die casters signed monthly contracts with ADC 12 manufacturers at Rs170,000/mt for July deliveries, down from Rs172,500/mt in the prior month. Few secondary manufacturers confirmed trades at Rs173,000- 175,000/mt. Die casters supplying auto components said both domestic as well as export demand remain weak.
The prices for imported raw material witnessed marginal changes driven by $22/mt rise in the three-month LME aluminium contract. The weekly Index for Taint/Tabor, Friday, rose $17/mt to settle at $1,756/mt cfr India port from the prior week and the index for Tense settled $1,729/mt cfr India port, Friday up by $31/mt from the prior week. Demand for Taint/Tabor and Tense is rising as manufacturers are expecting a revival in demand in August.
The weekly Davis Index for Zorba 95/2 settled at $1,605/mt cfr India port, down by $13/mt from the prior week,
The weekly Davis Index for ADC 12 settled at $2,281/mt cfr China on July 16, up by $11/mt from the prior week. The weekly Davis Index for ADC 12 cfr Japan settled at $2,313/mt, up by $13/mt from the prior week. Few manufacturers targeted $2,281/mt cfr China port but were disappointed. They reported Chinese bids at or below $2,270/mt cfr China port.
($1= Rs74.92)