The weekly Davis Index for secondary zinc ingot settled at Rs159,950/mt ($2,154.7/mt) ex-works Delhi consumer, up by Rs 10,000/mt on Monday. Prices ended their month-long downtrend as trades picked up this week.
Before freight charges rise due to the COVID-19 outbreak, manufacturers booked inventories this week. Freight charges at present are in the range of Rs3,000-4,000/mt depending on the location, and are likely to rise further. In Mumbai, the index for secondary zinc ingot settled at Rs159,700/mt ex-works consumer, up by Rs6,500/mt.
After the Indian government imposed a ban on dross imports, its supply has tightened in the markets and pushed prices up. The weekly Davis Index for galvanizer’s dross settled at Rs146,325/mt ex-works Mumbai producer, up by Rs375/mt. The Davis Index for galvanizer’s dross settled at Rs.150,833/mt, up by Rs833/mt Monday.
The Davis Index for new zinc diecast settled at $1,466/mt cfr India port, down by $8/mt. But suppliers are unwilling to offer at these levels.
The Davis Index for Zamak #3 settled at Rs 175,725/mt, down by Rs4,366/mt on Monday, due to weak demand for parts in the auto sector. The Davis Index for Zamak #5 fell by Rs4616/mt and settled at Rs178,475/mt. The LME three-month zinc contract settled at $2,003/mt, up by $5/mt on Friday from $1,997.5/mt, the prior week.