ADC 12 and LM6 prices dropped in Delhi and Mumbai on the back of the subdued domestic demand. Manufacturers heard new bids for ADC 12 from China at $2,050-2,100/mt cfr China port, up by $49-99/mt from the prior week and traders reported a rise in aluminium scrap prices.
The weekly Davis Index for ADC 12 settled at Rs144,333/mt ex-works Delhi producer, down by Rs667/mt ($9.18/mt) from prior Monday due to weak domestic demand. A few deals were heard at Rs137,000/mt as well. Manufacturers informed that a major auto producer in Northern India declared the purchase price for ADC 12 at Rs157,000/mt.
The three-month contract for aluminium rose by $69/mt to settle at $2,081/mt on February 12 from $2,012/mt on February 5. The Old Cast import price rose by 53/mt to settle at $1,500/mt cfr India port last Friday from the prior week. The price of Zorba 95/2 cfr India port settled at $1,521/mt, up by $43/mt.
In Mumbai, the weekly Davis Index for ADC 12 settled at Rs154,500/mt ex-works producer, down by Rs1,000/mt. Deals were also reported at Rs160,000/mt ex-works Mumbai. Diecasters signed a contract to purchase ADC 12 at Rs156,000/mt in Feb 2021, down from Rs162,000/mt in January.
The weekly Index for LM6 settled at Rs168,167/mt ex-works Mumbai producer from Rs168,500/mt, down by Rs333/mt.