The weekly index for ADC 12 in Delhi remained unchanged at Rs112,000/mt ex-works as a majority of alloy manufactures refrained from resuming production due to government restrictions and the absence of labour.
Manufacturers from North India are reaching out to the government to stop the outflow of migrant labour, as workers continue to travel back to their hometowns with the government having lifted travel restrictions at few places.
According to inland importers and consumer associations, at least 150,000 containers carrying scrap material are stuck at several ports in India due to a disruption in logistics.
The weekly Davis Indexes for ADC 12 and LM6 in Mumbai settled flat at Rs120,500/mt ex-works and Rs146,000/mt ex-works respectively, unchanged for the sixth week, as plants have been closed since April 14.
Market participants are shying away from booking scrap imports as they wait for more clarity from local governments. Manufacturers say that initially they would rely on existing inventories and would start booking scrap as orders for alloys start to trickle in.
($1= Rs76.19)