The weekly Davis Index for ADC 12 rose by Rs1,667/mt ($22.68/mt) Monday to settle at Rs123,667/mt ex-works Delhi producer from prior Monday on sustained auto sector demand and return of export orders from China and Japan-based buyers.
Manufacturers in North India said that after Japanese buyers offered $1,660-1,680/mt, Chinese buyers upped their offers to $1,750/mt.
The weekly Davis Index for old cast/Tense rose by $23/mt to $1,173/mt cfr India port on Friday. The Davis Index for Taint/Tabor settled at $1,205/mt cfr India port Friday, down by $4/mt from the prior week.
The weekly index for ADC 12 increased by Rs333/mt to settle at Rs130,500/mt, ex-works Mumbai producer from prior Monday. Davis Index heard offers at Rs131,000/mt, but not all producers in the Mumbai region confirmed deals at this rate. South-based downstream manufacturers offered to pay Rs131,000/mt on advance payment basis, informed manufacturers in Western India.
The weekly Index for LM6 settled at Rs149,667/mt ex-works Mumbai producer, up by Rs1,000/mt. Die-casters who will be signing the monthly contract in the next few days expect prices to settle amid improved availability of imported scrap.