ADC 12 prices climbed up in Delhi and Mumbai as raw material cost spiked in sync with the three-month official contract of aluminium on LME and resumption of exports to Japan, while the price of LM6 in Mumbai settled unchanged from the prior week.
The weekly Davis Index for ADC 12 cfr China settled at $2,200/mt on Friday last week from $2,100/mt cfr China in the week before that, up by $100/mt. Exporters reported slow demand from China for ADC 12 alloys on the back of the rising prices, driven by the spike in the three-month official contract on LME. The weekly Davis Index for ADC 12 cfr Japan settled at $2,375/mt, up by $175/mt.
The weekly Davis Index for ADC 12 settled at Rs153,500/mt ex-works Delhi producer, up by Rs6,750/mt($91.81/mt). Few producers sold ADC 12 at Rs155,000/mt. There was weak demand in a few regions.
The three-month contract for aluminium rose by $52/mt to settle at $2,202.5/mt on Feb 26 from $2,150.5/mt on Feb 19.
The weekly Davis Index for Zorba 95/2 settled at $1,686/mt cfr India port, up by $98/mt. The weekly Davis Index for Taint/Tabor rose by $18/mt to settle at $1,584/mt cfr India port while the index for Tense settled at $1,563/mt, up by $33/mt.
The weekly Davis Index for ADC 12 settled at Rs157,500/mt ex-works Mumbai producer, up by Rs2,833/mt. Participants in Mumbai reported subdued domestic demand for auto alloys.
The weekly Index for LM6 settled unchanged at Rs174,500/mt ex-works Mumbai producer.
($1= Rs73.51)