Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for Indian domestic aluminium old sheet declined by Rs1,000mt ($14.02/mt) to Rs94,000/mt del Delhi consumer, as demand from auto manufacturers and makers of ADC12 weakened.
ADC12 makers reduced production of the alloy with limited export orders from China and sluggish domestic demand. 

A shortage of silicon, used as a raw material for manufacture of this alloy, also contributed to slowdown in production.
The index for Indian domestic aluminium old cast fell by Rs2,000mt ($28.04/mt) to Rs86,000/mt del Delhi consumer on Tuesday. 
Prices were under pressure due to an abundant supply of scrap in the domestic markets.
Demand for Tense from Indian alloy makers is likely to go up in the near term. 

Aluminium alloy manufacturers are, at present, receiving inquiries from Singapore, Korea and Japan for the export of ADC-12. 
If the inquiries convert into export orders, bookings for Tense scrap could increase. 

The Davis Index for domestic EC wire scrap declined by Rs1,000/mt to Rs130,000/mt del Delhi consumer on Tuesday. 
The Davis Index for Indian domestic EC wire scrap remained flat at Rs130,000/mt del Mumbai consumer.
The index for aluminium old sheet rose by Rs1,083/mt to Rs93,250 del Mumbai consumer on continued demand from alloy manufacturers. 
Alloy makers continue to a face shortage of silicon supply. 
Silicon is shipped from China and if the country does not resume operations in the near term, production of secondary alloys could suffer. 

($1= Rs71.30)


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