The weekly index for aluminium EC wire Tuesday rose by Rs3,000/mt ($39.67/mt) and Rs3,750/mt ($49.59/mt) to settle at Rs125,000/mt del Delhi consumer and del Mumbai consumer, respectively, reflecting an uptick in primary metals prices over the last few days. Both Balco and Hindalco revised their product prices on June 6 and June 9 in line with the increase in LME spot aluminium prices. LME spot aluminium prices Monday rose by $58/mt to settle at $1,569.5/mt from last Monday.
The index for aluminium utensil rose by Rs2,000/mt Delhi and Mumbai to settle at Rs103,000/mt del Delhi and del Mumbai consumer as utensil production has slowly restarted in North and Western India. Utensil manufacturers in India use primary metals as part of their raw material. The percentage of primary metal is more in Eastern parts of India this drives aluminium utensil scrap prices in line with the rise in primary aluminium.
The weekly Davis Index for domestic old cast (Purja/Tense) settled unchanged at Rs79,000/mt del Delhi consumer from last Tuesday. Delhi markets reported slow trade as manufacturing plants are waiting for workers to return to ramp up production.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged at Rs91,000/mt del Delhi consumer on slow demand from alloy manufacturers.
The index for domestic old sheet settled unchanged at Rs91,000/mt del Mumbai consumer, reflecting slow demand. Alloy manufacturers in Gujarat are hopeful to resume production by this weekend and have started inquiries for booking imported scrap.
The weekly index for domestic old cast (Purja/Tense) settled at Rs79,000/mt del Mumbai, down by Rs1,000/mt. No trades were reported. In seaborne trades, the index for imported aluminium old cast remained unchanged at $976/mt cfr India on Friday, up by $46/mt from the past week. Domestic old cast and Taint/Tabor traders expect prices to rise as aluminium alloy makers are likely to increase their supplies to auto sector an.