The weekly Davis Index for ADC 12 Monday fell by Rs4,417/mt ($58.50/mt) to settle at Rs110,333/mt ex-works Delhi from the prior week driven by weak demand in the domestic market.
Secondary alloy manufacturers in Delhi and in other parts of India preferred to rely on ADC-12 exports to China. Davis Index heard trades at $1,400/mt cfr China on Monday.
The Davis Index for ADC 12 settled at Rs115,000/mt ex-works Mumbai on Monday, up by Rs500/mt on steady demand. Manufacturers supplying ADC 12 to Bajaj Auto plant in Waluj, near Aurangabad said that demand will drop further if the company decides to shut down production after 79 of its employees tested positive for COVID-19 on Friday.
Auto manufacturers have so far ignored worker’s union demand to shut down production citing the safety of employees. Other Indian auto companies like Maruti Suzuki, Hyundai, and Toyota, have also reported COVID infections among their employees.
ADC 12 alloy is used by automotive companies to manufacture diecasting parts used in automobiles.
The weekly Davis Index of LM6 settled at Rs138,000/mt ex-works Mumbai producer, down by Rs1,000/mt($13.24/mt) driven by weak demand from the power sector.