The ADC 12 alloy prices settled flat in Delhi and Mumbai driven by the weak domestic demand despite the volatility in the three-month aluminium contract on LME.
Domestic demand for auto alloys continued to remain under pressure as lockdown has been extent in many regions of the country.
As many of those working in secondary units are still away, production cuts continue to exist.
The prices for ADC 12 cfr China and cfr Japan were heard at $2,350/mt, unchanged from the prior week. The secondary manufacturers exporting auto alloys to China and Japan reported a steady flow of enquiries from both the countries.
In Delhi and Mumbai, the weekly Davis Index for ADC 12 settled flat at Rs166,333/mt and Rs175,500/mt ex-works producer, respectively.
Die casters exporting auto components reported steady demand from the European countries and the US.
The weekly Index for LM6 settled flat at Rs193,000/mt ex-works Mumbai producer.
The three-month contract for aluminium dropped by $97/mt to settle at $2,337/mt on May 24 and rose for three sessions before settling at $2,434/mt on May 28.