The weekly Davis Index for ADC 12 settled at Rs122,000/mt up by Rs1,333/mt($18.13/mt) ex-works Delhi producer from Rs120,667/mt prior Monday on sustained demand from auto manufacturers.
Along with manufacturers in North India, those in Maharashtra also increased their alloy prices on the back of pent-up demand from auto companies and rise in the prices of imported scrap.
The Davis Index for old cast/Tense remained flat at $1,150/mt cfr India port on Friday. The Davis Index for Taint/Tabor settled at $1,209/mt cfr India port Friday, up by $9/mt from the prior week.
The weekly Davis Index for ADC 12 settled at Rs130,167/mt ex-works Mumbai producer, up by Rs417/mt from Rs129,750/mt on prior Monday. Davis Index heard offers at Rs132,000-133,000/mt but not all producers in Mumbai region confirmed deals at this rate.
The weekly Index for LM6 settled at Rs148,667/mt ex-works Mumbai producer, up by Rs417/mt. Die-casters signing the monthly contract with producers on 30-day payment basis offered Rs150,000/mt.