Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Domestic aluminium prices for most scrap grades spiked due to shortage in several parts of India, despite the drop in the-three-month aluminium contract on LME. 


The manufacturers across India are optimistic that the domestic demand would bounce back in February-March with hopes that export orders from China would continue for the next two months. Some manufacturers reported China having revised the price of auto alloys to $1,950/mt up from $1,920- 1,930/mt cfr China port in prior week. 


The weekly Davis Indexes for domestic EC wire Tuesday rose by up by Rs3,000/mt ($40.77/mt) to settled at Rs153,000/mt del Delhi consumer and Rs155,000/mt del Mumbai consumer. 


The weekly Davis Index for the domestic old cast (Purja/Tense) Tuesday settled at Rs112,250/mt del Delhi consumer, up by Rs583/mt. Few traders were reported trades at Rs116,000/mt for cleaner variation as manufacturers reported scarcity in the market. 

In Mumbai, the weekly Davis Index for the domestic old cast (Purja/ Tense) remained unchanged at Rs112,000/mt del consumer. Davis Index heard that traders are holding on to the scrap inventories expecting a rise in prices for majority of the grades in the upcoming days. 


The weekly Davis Indexes for domestic Taint/Tabor (old sheet) settled at Rs116,000/mt del Delhi consumer, down by Rs9,000/mt while in Mumbai it remained unchanged at Rs120000/mt del consumer.


The weekly Davis Indexes for aluminium utensils settled at Rs127,000/mt del Delhi consumer, down by 4,667/mt while in Mumbai, it settled at Rs118,000/mt del consumer, up by Rs2,000/mt 


The three-month official contract of aluminium on LME dropped by $4/mt to settle at $2,018.5/mt on Dec 7. 



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