The weekly Davis Index for ADC 12 settled at Rs130,000/mt ex-works Mumbai producer, up by Rs3,000/mt ($40.75/mt) from the prior week. Davis Index heard offers at Rs126,000/mt in some parts of Maharashtra, but formal producers did not confirm trades at this level.
The weekly Davis Index for LM6 settled at Rs148,000/mt ex-works Mumbai producer, up by Rs1,000/($13.58/mt) from the prior week. Davis Index heard offers at Rs150,000/mt but die-casters did not confirm trades at this level. Die-casters foresee short supply of alloys if the demand from the auto sector continues in the months to come.
The weekly Davis Index for ADC 12 settled at Rs120,500/mt ex-works Delhi producer, unchanged from prior Monday as small producers around Faridabad continued to sell ADC 12 at Rs116,000/mt on advance payment. Formal producers shared that they are unable to increase the prices despite the surge in the prices of raw material as local alloy makers continued to sell at lower prices.
Alloy manufacturers shared that the raw material shortage will continue this week as well. A major Indian auto producer that did not announce ADC 12 purchase price in July and August, continued to purchase auto alloy at Rs124,000/mt from the suppliers.
Unlike Delhi and other parts of North India, manufacturers in Mumbai increased their alloy prices driven by the spike in Tense, Taint/Tabor and Zorba 95/2 cfr India prices. Manufacturers said that the prices for these scrap grades have gone up by $50-100/mt from the pre-lockdown period.
($1 = Rs73.61)