The weekly Davis Index for ADC 12 Monday rose by Rs778/mt ($10.29/mt) from the prior week to settle at Rs118,778/mt ex-works Mumbai producer as die-casters returned to the market to fulfill orders from the auto and electricity sectors. Aluminium alloy manufacturers, however, continued to struggle with slow demand in the domestic market.
The weekly index for LM6 Monday increased by Rs389/mt from a week ago to settle at Rs138,889/mt ex-works Mumbai producer. Davis Index heard trades at Rs142,000/mt delivered manufacturers.
Die-casters bought alloys to fulfill export orders. In the view of slow domestic demand, the manufacturers are relying on the exports of ADC 12 to China, albeit at lower prices. Trades were heard at $1,400-$1,415/mt cfr China. Producers remain hopeful of an uptick in export prices to China in the near term.
The weekly index for ADC 12 in Delhi settled at Rs112,000/mt ex-works, up by Rs2,750/mt as auto manufacturers resumed partial operation from May 18. The downstream manufacturers, suppliers of auto components in North India held back purchases as they awaited clarity on alloy prices. Alloy manufacturers customised their prices to downstream buyers as per payment terms. Cash-based buyers received good discounts as the rest struggled for liquidity.