Offers for domestic aluminium scrap grades rose in Mumbai and Delhi markets following price hikes announced by public sector producer Nalco and Hindalco on Sept 7.
Nalco increased prices by Rs6,400/mt from Sept 1 in line with the rise in the three-month LME aluminium contract. The official three-month LME aluminium contract settled at $2,758/mt on Sept 6 from $2,696/mt on Aug 31.
Demand for scrap from secondary manufacturers improved on higher demand for auto alloys in the domestic as well as overseas markets, including China and Japan.
Mumbai
The weekly Davis Index for EC wire on Tuesday settled at Rs214,333/mt del Mumbai consumer, up by Rs4,333/mt ($59.03/mt).
The weekly Davis Index for Old cast (Purja) for Mumbai, Tuesday, settled at Rs146,000/mt del Mumbai consumer, up by Rs1,000/mt and the index for old sheet in Mumbai settled at Rs175,000/mt del consumer, up by Rs1,000/mt.
The index for aluminium utensils settled at Rs178,333/mt del Mumbai consumer, up by Rs333/mt from the prior week.
Delhi
The weekly Davis Index for EC wire, Tuesday, settled at Rs208,250/mt del Delhi consumer, up by Rs6,250/mt.
The weekly Davis Index for aluminium utensils settled at Rs171,500/mt del Delhi consumer, up by Rs3,000/mt.
The weekly Davis Index for the old cast (Purja) settled at Rs143,750/mt del Delhi consumer, up by Rs750/mt. The weekly Davis Index for old sheet in Delhi settled at Rs152,500/mt del Delhi consumer Tuesday, up by Rs2,000/mt.
($1=Rs73.39)