Domestic prices of zinc secondary alloy rose by Rs1,570-1,850/mt ($22-25/mt) on healthy demand from Zamak consumers.
The Davis Index for Zamak #3 settled at Rs202,367/mt del India consumer, up by Rs1,517/mt from the prior week, on a continued demand from die casters who are booking Zamak every 10 days on healthy demand for end use products. Increased demand from automobiles sector is also pushing Zamak prices up.
The Davis Index for Zamak #5 settled at Rs205,450/mt del India consumer, up by Rs1,850/mt from the prior week.
Zamak prices did not mirror the three-month official LME zinc contract, which fell by $162/mt on Monday from the prior week.
The fall in LME zinc also drove primary zinc producers to lower offers of Special High Grade zinc on Jan 27 across India by Rs6,000/mt to Rs 197,000/mt. This grade of zinc is a raw material used in production of Zamak.
Market participants believe that China’s lockdown because of the coronavirus are likely to push Zamak prices lower this week.