The weekly Davis Index for ADC 12 settled unchanged at Rs110,000/mt ex-works Delhi on Monday. Alloy manufacturers in North India cited a pick up in demand from two-wheeler producers. Market sentiments are positive as a major auto manufacturer announced purchase prices for ADC 12 at Rs120,000/mt late last week, said suppliers in the north.
In Mumbai, the weekly Index for ADC 12 settled at Rs115,167/mt ex-works on Monday, down by Rs333/mt ($4.42/mt) despite steady demand. Die-casters exporting auto components to China and European countries booked ADC 12 at Rs115,000/mt for July. The die-casters said that they are not facing any issues in getting delivery having acquired requisite permission from authorities to transport alloys and are not facing any logistics issues in spite of lockdowns in several parts of Maharashtra. The region is reporting large increases in COVID-19 infections, which is being curbed by the second round of lockdowns in select cities and towns.
The weekly Davis Index for LM6 settled at Rs138,250/mt ex-works Mumbai producer, up by Rs625/mt ($8.31/mt) driven by sustained demand from the power sector.