The weekly Davis Indexes for aluminium EC wire, Tuesday, settled at Rs123,556/mt, up by Rs1,112/mt ($14.84/mt) del Delhi consumer and Rs124,250/mt del Mumbai consumer, up by Rs1,250/mt ($16.68/mt) driven by sustained demand from downstream industries.
New lockdown restrictions in Maharashtra, amid the COVID-19 pandemic, have made it difficult for traders to get transport permit to procure or deliver scrap, especially to the alloy traders in Mumbai who serve the auto industry. Meanwhile, traders from Gujarat are serving the clients in Maharashtra.
EC wire scrap prices rose on the back of aluminium producer Nalco increasing product prices by Rs1,200/mt on July 1 from June 27. EC wire prices in India change with the increase or decrease in Nalco product prices.
The weekly Davis Index for aluminium utensil was unchanged at Rs103,000/mt del Delhi consumer and del Mumbai on steady demand.
The Davis Index for the domestic old cast (Purja/Tense) settled at Rs78,000/mt del Delhi consumer, up by Rs333/mt from Rs77,667/mt prior week. The index for the domestic old cast (Purja/Tense) settled at Rs82,500/mt del Mumbai, up by Rs4,500/mt as traders in other parts of India rushed to supply scrap to alloy manufacturers in and around Mumbai driven by the uptick in the demand for auto parts from two-wheeler or commercial vehicle manufacturing companies.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged at Rs91,000/mt del Delhi on continued demand.
Gujrat traders reported a continued demand for Taint/Tabor in Rajasthan, Chattisgarh and Madhya Pradesh and Maharashtra.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged at Rs95,250/mt del Mumbai consumer, up by Rs4,250/mt on strong demand from alloy manufacturers.