ADC 12 prices gained marginally in Delhi and Mumbai due to slow but steady demand from the domestic sector despite the drop in the three-month official contract of aluminium.
However, export orders for ADC 12 from China and Japan slowed over the week. The weekly Davis Index for ADC 12 cfr China settled at $2,196/mt on Friday last week, down from $2,200/mt the preceding week. The weekly Davis Index for ADC 12 cfr Japan settled unchanged at $2,375/mt.
In Delhi, the weekly Davis Index for ADC 12 settled at Rs153,667/mt ex-works producer, up by Rs167/mt ($2.28/mt) in sync with the LME. Few producers sold ADC 12 at Rs154,000/mt but not all producers confirmed sales at these levels on the back of weak demand in few regions.
The three-month contract for aluminium dropped by $26.5/mt to settle at $2,176/mt from $2,202.5/mt on Feb 26.
The weekly Davis Index for Zorba 95/2 settled at $1,700/mt cfr India port, up by $14/mt while the weekly Index for Taint/Tabor rose by $26/mt to settle at $1,610/mt cfr India port. The Index for Tense settled at $1,633/mt cfr India port, up by $70/mt from the prior week.
In Mumbai, the weekly Davis Index for ADC 12 settled at Rs158,000/mt ex-works producer, up by Rs500/mt ($6.82) with sustained domestic demand for auto alloys.
The weekly Index for LM6 settled at Rs175,000/mt ex-works Mumbai producer, up by Rs500/mt.