Domestic aluminium prices for few scrap grades gained del Delhi consumer and del Mumbai consumer-driven by the shortage of scrap in India. The three-month official contract of aluminium on LME rose by $32/mt to settle at $2,268.5/mt on April 12 from $2,236.5/mt from April 1. Market participants in Delhi and Mumbai reported the shortage of old cast/Tense and other grades. Participants are wary of complete lockdown measures as the second wave of COVID-19 hits India hard.
The weekly Davis Index for domestic EC wire Tuesday settled at Rs171,000/mt from Rs165,667/mt del Delhi consumer from the prior week, up by Rs5,333/mt($70.70/mt). The Davis Index for domestic EC wire Tuesday settled at Rs168,000/mt del Mumbai consumer, up by Rs2,000/mt($26.51/mt).
The weekly Davis Index for the domestic old cast (Puja/Tense) Tuesday settled at Rs132,000/mt from Rs128,333/mt del Delhi consumer the prior week, up by Rs3,667mt. The weekly Davis Index for the domestic old cast (Purja/ Tense) settled at Rs128,000/mt from Rs125,000/mt up by Rs3,000/mt from the prior week. Participants in Mumbai reported subdued demand.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled at Rs132,333/mt from Rs129,833/mt del Delhi consumer from the prior week, up by Rs2,500/mt. The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged at Rs130,000/mt del Mumbai consumer.
The weekly Davis Index for aluminium utensil settled at Rs141,000/mt from Rs138,333/mt del Delhi consumer from the prior week, up by Rs2,667/mt. The weekly Davis Index for aluminium utensils settled at Rs138,000/mt Rs136,500/mt del Mumbai consumer, up by Rs2,000/mt.
($1=Rs75.41/mt)