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

Prices of ADC 12 prices dropped in Delhi but gained in Mumbai on the back of the subdued demand from the domestic sector despite the marginal drop in the three-month official contract of aluminium from the prior week. Export orders from China and Japan have slowed. Participants expect demand to be weak till March-end. 

The weekly Davis Index for ADC 12 cfr China settled at $2,190/mt last Friday from $2,196/mt the preceding week, down $6/mt.  The weekly Index for this grade cfr Japan settled at $2,318/mt, down by $57/mt as Japanese traders lowered their bids for ADC 12.

The weekly Index for ADC 12 settled at Rs153,500/mt ex-works Delhi producer on Monday, down by Rs167/mt($2.30/mt) in sync with the LME. A few producers sold ADC 12 at Rs155,000/mt but not traders did not confirm sales at these levels on the back of weak demand.

The LME three-month contract for aluminium dropped by $10/mt to settle at $2,166/mt on March 12.

The weekly Indexes for Zorba 95/2 settled at $1,708/mt cfr India port, up by $8/mt; and for Taint/Tabor rose by $40/mt to settle at $1,650/mt cfr India port. The index for Tense dropped by $30/mt to settled at $1,603/mt cfr India port. 


The weekly Davis Index for ADC 12 settled at Ra160,000/mt ex-works Mumbai producer, up by Rs2,000/mt($27.59/mt). Participants in Mumbai reported a drop in domestic demand for auto alloys as financial year-end approaches. 


The weekly Index for LM6 settled at Rs174,000/mt ex-works Mumbai producer, down by Rs1000/mt.


($1= Rs72.47)

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