The weekly Davis Indexes for the domestic old cast (Purja/Tense) Tuesday rose by Rs2,375/mt ($31.80/mt) in Delhi to settle at Rs83,375/mt del consumer and in Mumbai increased by Rs1,500/mt ($20.8/mt) from the prior week to settled at Rs83,500/mt del consumer on stable demand.
EC wire prices remained unchanged despite a downward revision of primary aluminium prices by Indian producers. The weekly Davis Index for aluminium EC wire Tuesday settled flat at Rs126,000/mt del Delhi and del Mumbai consumer on slow demand in few regions. Leading aluminium producer Nalco dropped its product prices by Rs2,700/mt on July 18 from July 10, driven by a drop in LME spot aluminium prices.
Smaller alloy manufacturers are yet to return to the market, said, scrap traders. They are waiting for scrap prices to settle. Few trades were reported in Mumbai as manufacturers delayed production ramp-up amid a shortage of labourers.
The weekly Davis Index for aluminium utensil settled unchanged at Rs105,000/mt del Delhi consumer and del Mumbai on slow but steady demand.
In Gujarat, demand for Taint/ Tabor improved. The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged at Rs93,000/mt del Delhi on stable demand.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged at Rs93,500/mt del Mumbai consumer on weak demand from alloy manufacturers amid strict lockdown measures in many parts of Maharashtra.