The weekly Davis Indexes for the domestic old cast (Purja/Tense) Tuesday rose by Rs3,375/mt ($45.10/mt) in Delhi to settle at Rs86,750/mt del consumer and in Mumbai increased by Rs2,500/mt ($33.40/mt) from the prior week to settled at Rs86,000/mt del consumer on pent up demand.
EC wire prices remained unchanged despite an upward revision of primary aluminium prices by Indian producers. The weekly Davis Index for aluminium EC wire Tuesday settled flat at Rs126,000/mt del Delhi and del Mumbai consumer on sustained demand in few regions.
Leading aluminium producer Nalco increased its product prices by Rs2,900/mt on July 24 from July 18, driven by an increase in LME spot aluminium prices.
The alloy manufacturers and traders experienced scarcity of Tense in the market. The scrap prices rose to $1,075/mt del Delhi consumer on Tuesday. The prices have gone up by more than $50/mt in last few days, informed traders.
Auto manufacturers like Bajaj Auto, Hero MotoCorp and Maruti have ramped production of vehicles and the same has created the demand for auto alloys. The alloy manufacturers are looking for the sustained supply of imported Tense to fulfil the demand for alloys from auto manufacturers.
The weekly Davis Index for aluminium utensil settled unchanged at Rs105,000/mt del Delhi consumer and Rs110,000/mt, up by Rs5,000/mt del Mumbai on sustained demand.
In Gujarat and Maharashtra, demand for Taint/ Tabor improved. The weekly Davis Index for domestic Taint/Tabor (old sheet) settled at Rs95,375/mt del Delhi and Rs95,000/mt, up by Rs2,375/mt and Rs1,500/mt, respectively, on rising demand from alloy manufacturers in the several states.