The weekly Davis Index for ADC 12 settled at Rs171,333/mt ex-works Mumbai producer, up by Rs3,333/mt($44.86). Participants in Mumbai have resumed production, but domestic demand from end-users is yet to pick up. Die casters signed a monthly contract with manufacturers to purchase ADC 12 at Rs170,000/mt for July, down from Rs172,500/mt in the prior month. But not all secondary manufacturers confirmed trades at these levels. Die casters supplying auto components reported that both domestic and export demand remains weak.
The weekly Davis Index for ADC 12 settled unchanged at Rs165,000/mt ex-works Delhi producer.
Imported raw material prices registered only marginal changes despite a $65/mt upswing in the three-month aluminium contract on LME, indicating subdued demand. The three-month contract for aluminium settled at $2,535/mt on July 2, up from $2,470/mt on June 25. On Friday, July 2, the weekly Davis Index for Zorba 95/2 settled at $1,606/mt cfr India port, down by $4/mt from the prior Friday, the weekly Index for Taint/Tabor was up by $25/mt to $1,710/mt cfr India port, and the index for Tense settled $1,670/mt cfr India port, up by $1/mt.
In the seaborne market, the weekly Davis Index for ADC 12 settled unchanged at $2,210/mt cfr China on July 2 from the prior week, while in Japan, the weekly index for the alloy settled at $2,300/mt cfr Japan, up by $60/mt from the prior week. Manufacturers in Northern India reported an increase in new bids for ADC 12 from Japan. Participants shared that the Japanese demand for ADC 12 from India has gone up after Malaysia went under a lockdown to contain the COVID-19 spread.
The weekly index for LM6 settled at Rs191,000/mt ex-works Mumbai producer, up by Rs1,250/mt.
($1= Rs74.29)