Prices of ADC 12 rose in Delhi but remained unchanged Mumbai on the back of the sustained demand from the domestic sector in North India. Export orders from China and Japan have slowed. Participants shared that the weakness in demand is likely to continue till the financial year-end, i.e. March 31.
The weekly Davis Index for ADC 12 cfr China settled at $2,200/mt from the preceding week. The weekly Davis Index for ADC 12 cfr Japan settled at $2,300/mt, down by $18/mt as Japan has slowed down the purchase of ADC 12.
The weekly Davis Index for ADC 12 settled at Rs155,500/mt, up by Rs2,000/mt($27.63/mt) ex-works Delhi producer in sync with the LME. A few producers sold ADC 12 at Rs158,000/mt.
The three-month contract for aluminium rose by $57/mt to settle at $2,223/mt on March 19, from $2,166/mt on March 12.
The weekly Davis Index for Zorba 95/2 settled at $1,693/mt cfr India port, down by $15/mt while for Taint/Tabor, it rose by $6/mt to settle at $1,656/mt cfr India port. The weekly Index for Tense settled at $1,600/mt, down by $3/mt.
The weekly Davis Index for ADC 12 settled unchanged at Rs160,000/mt ex-works Mumbai producer. Participants in Mumbai reported subdued domestic demand for auto alloys.
The weekly Index for LM6 settled at Rs175,000/mt, up by Rs1000/mt ex-works Mumbai producer.