Domestic prices of aluminium scrap grades settled flat to up, driven by the shortage of certain grades in few parts of India. The three-month official aluminium contract on LME gained $72/mt to settle at $2,282.50/mt on Mar 22, from $2,210.50/mt on Mar 15. Market participants in Delhi and Mumbai reported a shortage of old cast/Tense and a slowing of purchases ahead of the financial year-end.
The weekly Davis Index for domestic EC wire settled unchanged at Rs164,000/mt del Delhi consumer and Rs164,000/mt del Mumbai consumer.
The weekly Davis Index for domestic old cast (Purja/Tense) settled at Rs125,000/mt del Delhi consumer, up by Rs500/mt ($6.90/mt). Few traders reported trades at Rs126,000/mt for cleaner variation as manufacturers reported scarcity in the market. The weekly Davis Index for the domestic old cast (Purja/ Tense) settled at Rs123,250/mt del Mumbai consumer, down by Rs750/mt.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled at Rs125,000/mt del Delhi consumer, up by Rs1,000/mt while in Mumbai, it settled at Rs126,750/mt del Mumbai consumer, up by Rs3,750/mt.
The weekly Davis Index for aluminium utensils settled unchanged at Rs135,000/mt del consumer in Delhi and Mumbai.