The weekly Davis Index for ADC 12 settled at Rs120,667/mt ex-works Delhi producer, up by Rs167/mt($2.27/mt) from prior Monday on sustained demand from auto manufacturers.
Davis Index had reported how some producers around Faridabad continued to sell ADC 12 at Rs116,000/mt on advance payment terms. Formal producers in the North said they are forced to keep prices at Rs120,000- 121,000/mt level despite the surge in raw material prices as local alloy makers continued to sell the alloys at lower levels.
Meanwhile, manufacturers in Maharashtra increased their alloy prices driven by the pent-up demand from auto companies and rise in the prices of imported scrap delivered India. The Davis Index for old cast/Tense settled at $1,150/mt cfr India port last Friday, up by $52/mt from the prior week.
The Davis Indexes for Taint/Tabor and Zorba 95/2 settled at $1,200/mt (up by $52/mt from the prior week) and $1,179/mt cfr India port on Friday (up by $67/mt), respectively.
The weekly Davis Index for ADC 12 settled at Rs129,750/mt on Monday, up by Rs750/mt from the prior week. Davis Index heard offers at Rs130,000/mt but not all producers in Mumbai region confirmed deals at this rate.
The weekly Index for LM6 settled at Rs148,250/mt, up by Rs250/mt from the prior week. Davis Index heard offers at Rs146,000-148,000/mt on immediate payment basis with die-casters signing a monthly contract with producers on 30-day payment basis offered Rs150,000/mt.