The weekly Davis Index for domestic Taint/Tabor (old sheet) settled flat at Rs98,000/mt del Delhi consumer on Tuesday, for the sixth week. In seaborne markets, the weekly index for imported Taint/Tabor settled flat at $939/mt cfr India on Friday.
Importers refrained from booking scrap amid lack of demand. Containers lay stacked up at ports as previous consignments are yet to be cleared due to logistical issues. With new cases COVID-19 refusing to subside, traders fear alloy manufacturers could take a longer time to resume production.
The index for domestic old sheet settled flat at Rs98,500/mt del Mumbai consumer, with no trades reported in the week. Despite a few relaxations granted by the central government to enable resumption of economic activities, manufacturers in North India cited that are unable to resume production as migrant workers are unable to travel to their workplaces.
The weekly index for domestic old cast (Purja/Tense) settled unchanged at Rs85,000/mt del Delhi for a sixth successive week and the index for imported aluminium old cast also settled flat at $934/mt cfr India on Friday.
The weekly index for aluminium EC wire remained flat at Rs130,000/mt del Delhi consumer and del Mumbai consumer. The index for Indian old cast settled flat at Rs83,750/mt del Mumbai consumer.
The index for aluminium utensil settled unchanged at Rs106,000/mt del Delhi consumer, also on a lack of demand. The index for aluminium utensils settled flat at Rs103,500/mt del Mumbai consumer.
Traders faced liquidity crunch as sales come to a standstill and, therefore, remained away from trades.