Domestic aluminium prices for certain scrap grades settled flat to up driven by the shortage of in some parts of India. Following the marginal drop in the preceding week, the three-month official contract of aluminium on LME gained by $47/mt to settle at $2,210.5/mt on March 15 from $2,163.5/mt on March 8.
Market participants in Delhi and Mumbai said there is a shortage of old cast/Tense as offshore traders struggled to secure vessels and containers to transport scrap.
Manufacturers across India witnessed subdued demand as buyers avoided new purchases towards the end of the fiscal year.
The weekly Davis Index for domestic EC wire Tuesday settled at Rs164,000/mt del Delhi consumer, up by Rs1,667/mt ($22.98/mt). The weekly Davis Index for domestic EC wire Tuesday settled at Rs164,000/mt del Delhi consumer, up by Rs2,000/mt.
The weekly Davis Index for the domestic old cast (Purja/Tense) Tuesday settled at Rs124,500/mt del Delhi consumer, up by Rs167/mt. Few traders reported trades at Rs126,000/mt for cleaner variation as manufacturers reported scarcity in the market. In Mumbai, the weekly Davis Index for the domestic old cast (Purja/ Tense) settled at Rs124,000/mt del consumer, up by Rs3,667/mt.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled unchanged at Rs124,000/mt del Delhi consumer and Rs123,000/mt del Mumbai consumer.
The weekly Davis Indexes for aluminium utensil settled at Rs135,000/mt del Delhi consumer, up by Rs1000/mt while in Mumbai, it rose to Rs135,000/mt del consumer by Rs4,000/mt.