The weekly Davis Index for ADC 12 settled at Rs128,500/mt, up by Rs2,250/mt ($30.70/mt) from Rs126,250/mt ex-works Delhi producer on prior Monday due to shortage of scrap and uptick in domestic demand from auto manufacturers. Renewal of export orders from China and Japan also aided the prices.
The ADC 12 producers in north India reported a shortage of old cast/Tense in the domestic market. A producer there told Davis Index that he bought old cast/Tense and Taint/Tabor at $1,250/mt delivered north India, up by $30/mt from last month.
The ADC 12 producers around Mumbai reported adequate supply of Tense and Taint/Tabor in Mumbai market and that the prices of auto alloys might soar considering the sustained demand.
The weekly Davis Index for ADC 12 settled at Rs134,667/mt, up by Rs1,167/mt from Rs133,500/mt, ex-works Mumbai producer. Die-casters near Mumbai signed an agreement with manufacturers for ADC 12 alloys at Rs135,000/mt for October on 30-days payment terms.
The weekly Index for LM6 settled unchanged at Rs152,000/mt ex-works Mumbai producer from the prior week.