The weekly Davis Index for aluminium EC wire Tuesday settled at Rs131,000/mt del Delhi and del Mumbai consumer up by Rs1,000/mt ($13.39/mt) on sustained demand. The index for the grade rose on an upward revision of primary aluminium prices by Nalco on Friday. State-owned aluminium producer Nalco increased its product prices by Rs1,300/mt on August Rs14 from August 7.
The weekly domestic old cast (Purja/Tense) Tuesday rose by Rs2,292/mt ($/mt) in Delhi to settle at Rs95,667/mt del consumer and dropped by Rs2,750/mt($/mt) in Mumbai to settle at Rs91,000/mt del Mumbai consumer. Alloy manufactures are ready to pay more as the market faces a shortage of Tense, said Delhi-based traders, while alloy manufacturers around Mumbai said that the availability of Tense improved from the last week in some parts. Manufacturers near Pune-Mumbai auto hub bought Tense scrap at Rs87,000/mt last week. The price of Tense will continue to be upbeat for the next few weeks, said alloy manufacturers in North.
In Delhi, the weekly Davis Index for aluminium utensil settled unchanged at Rs108,000/mt del consumer from the prior week. The weekly Davis Index for aluminium utensils settled unchanged at Rs116,000/mt del Mumbai consumer on stable demand.
The availability for Taint/ Tabor improved from the prior week. The weekly Davis Index for domestic Taint/Tabor (old sheet) Tuesday settled at Rs98,000/mt del Delhi and Rs97,500/mt del Mumbai down by Rs2,000/mt and Rs2,500/mt, respectively, from the prior week.
($1=Rs74.67)