The weekly Davis Index for ADC 12 settled at Rs168,000/mt ex-works Mumbai producer, down by Rs1,600/mt ($21.56) driven by a dip in scrap prices.
The weekly Index for Old Cast cfr India settled at $1,669/mt on Friday, down by $21/mt from a week and the weekly index for Zorba 95/2 settled at $1,604/mt on Friday, down by $12/mt.
Production activities in Mumbai have resumed as migrated labourers have started to return to their workplaces. Participants reported a revival in domestic demand and shared that the demand will pick up further in July driven by the purchase of new automobiles.
In other Asian markets, on Friday, the weekly Davis Index for ADC 12 settled at $2,210/mt cfr China port, down by $3/mt in a week and at $2,240/mt cfr Japan port, up by $10/mt. Manufacturers in North India reported an increase in bids for ADC 12 from China from the prior week. Domestic prices gained in Delhi on the back of the rising export demand.
The weekly Davis Index for ADC 12 settled at Rs165,000/mt ex-works Delhi producer, up by Rs1,000/mt. The index for LM6 settled at Rs189,750/mt ex-works Mumbai producer, up by Rs1,250/mt from a week ago.
The three-month LME contract for aluminium settled at $2,470/mt on Friday, up by $90/mt from the preceding week.