Domestic aluminium scrap prices spiked driven by rise in international scrap prices on the back of the pent-up demand from alloy manufacturers, who had to scarcity of scrap and disruption in the production.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled at Rs109,000/mt del Delhi consumer, up by Rs3,167/mt ($43.01/mt), and Rs106,000/mt del Mumbai consumer, up by Rs1,500/mt, on the sustained demand from downstream industries across India.
The weekly Davis for the domestic old cast (Purja/Tense) Tuesday rose by Rs1,750/mt ($/mt) to settle at Rs99,500/mt del Delhi consumer, and Rs95,000/mt del Mumbai consumer, up by Rs2,000/mt.
The weekly Davis Index for domestic for aluminium EC wire Tuesday settled at Rs138,000/mt del Delhi consumer, up by Rs1,000/mt, and Rs137,000/mt del Mumbai consumer, up by Rs2,000/mt.
The weekly Davis Index for aluminium utensil settled at Rs113,000/mt del Delhi consumer, up by Rs1,000/mt, and for Mumbai, was flat at Rs112,000/mt del consumer, up by Rs1,500/mt due to rise in demand.
The three-month aluminium contract dropped by $16/mt to settle at $1,787.5/mt, Monday, down from $1,803/mt prior Monday.
($1= Rs73.63)