Indian secondary aluminium alloy prices on Monday dropped by Rs2,000/mt ($27.99/mt) to Rs115,500/mt ex-works Delhi from the prior week, driven by a drop in the price of imported scrap.
Die casters in Gujarat claimed to have purchased the alloy at Rs110,000- 112,000/mt from manufacturers in the region, however, no manufacturer confirmed any deal at that rate.
Davis Index for tense dropped by $21/mt to settle at $1,104/mt cfr India, Friday, from the prior week. Index for T/T dropped by $9/mt and settled at $1,113/mt, cfr India, from the prior week.
Secondary aluminium alloy prices ex-works Mumbai dropped by Rs2,250/mt to Rs113,500/mt from the week prior. In North India, demand for alloys from the auto sector remains stable.
Alloy manufacturer in Kolkata sold ADC 12 at Rs112,000-113,000/mt.
The Davis Index for LM6 dropped by Rs333/mt and settled at Rs138,000/mt.
LM6 alloy prices in Kolkata were between Rs139,000- 140,000/mt delivered to producers, driven by strong demand from downstream industries state manufacturers
Scrap availability of imported tense and T/T slightly improved from last week, resulting in a drop in prices.
In the week that ended on Jan 20, the price of tense and TT climbed $15/mt to settle at $1,125/mt cfr India and $1,122/mt cfr India, respectively.
($1=Rs71.45