Aluminium prices for domestic Tense (old cast) rose in Delhi while others settled flat to down with shortage of grades in few parts of India. Bookings for scrap imports resumed on Monday.
The manufacturers across India witnessed a dip in demand from the auto sector. The market participants are optimistic that the domestic demand would return in February and March.
The weekly Davis Index for the domestic old cast (Purja/Tense) Tuesday settled at Rs117,000/mt del Delhi consumer, up by Rs1,000/mt($13.65/mt) while it remained unchanged in Mumbai at Rs115,000/mt del consumer.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged in Delhi and Mumbai at Rs119,000/mt del consumer and Rs120,000/mt del consumer, respectively.
In Delhi and Mumbai, the weekly Index for domestic EC wire also remained unchanged at Rs152,000/mt del consumer and Rs154,000/mt del consumer, respectively.
The weekly Index for aluminium utensil settled at Rs126,000/mt del Delhi consumer, down by Rs1,000/mt while it remained unchanged in Mumbai at Rs124,000/mt del consumer.
The three-month official contract of aluminium on LME dropped by $8.5/mt to settle at $2,016/mt on Jan 4 from $2,024.5/mt on Dec 24.
($1=Rs73.21/mt)