The offers for most of the domestic aluminium scrap grades settled low to high in Delhi while it remained unchanged in Mumbai driven by limited demand and volatility in the three-month LME official aluminium contract from the prior week.
The weekly Davis Index for the old sheet in Delhi settled at Rs146,000/mt del Delhi consumer on Tuesday, down by Rs 1,000/mt ($13.71/mt).
The weekly Davis Index for EC wire settled at Rs181,000/mt del Delhi consumer, also down by Rs1,000/mt.
Trades were thin as the Delhi Government extended lockdown in the state till June 7. Buyers were interested only in thin volumes to meet immediate requirements. Secondary manufacturers reported scarcity of scrap material while domestic demand continues to remain weak as downstream industries have idled production.
The weekly Davis Index for old cast (Purja) settled at Rs137,000/mt del Delhi consumer driven by slight improvement in demand from the units exporting auto alloys to China and Korea.
The weekly Davis Index for aluminium utensils settled at Rs150,000/mt del Delhi consumer, up by Rs500/mt from prior Tuesday.
The weekly Davis Index for EC wire remained flat at Rs185,000/mt del Mumbai consumer on the back of the volatility in the LME three-month price and weak demand from secondary manufacturers due to unavailability of workforce and production cuts.
Traders kept offers unchanged despite advancement in aluminium contract on LME for the last three seasons before May 28. The official three-month LME contract settled unchanged at $2,434/mt on May 28.
In the state of Maharashtra, the government has extended partial lockdown measures till June 15, which has affected domestic demand for scrap.
Auto company and small manufacturers having confirmed export orders continued their production while units relying on domestic downstream industries have halted production or applied severe cuts.
The weekly Davis Index for Old cast (Purja) for Mumbai on Tuesday settled unchanged at Rs136,000/mt del consumer while and the index for old sheet settled at Rs142,000/mt del consumer on Tuesday. The weekly index for aluminium utensils on Tuesday settled flat at Rs150,000/mt del Mumbai consumer.