The weekly Index for ADC 12 remained unchanged at Rs112,000/mt ex-works Delhi as downstream industries continued to remain shut due to the COVID-19 lockdown across India.
Secondary alloy manufacturers cited that despite permissions for transport of non-essential goods, logistic services for the transport of raw material are yet to resume operations at a local level. Manufacturers demand that import license approvals should be made available online. Scrap imports are also controlled under the Ministry of Environment and Forest and Central Pollution Control Board and their approvals are also required which is difficult to obtain in times of lockdown.
The weekly Davis Indexes for ADC 12 and LM6 in Mumbai settled flat at Rs120,500/mt ex-works and Rs146,000/mt ex-works, respectively, unchanged from last week as mills remained closed.
Market participants stayed away from booking imported scrap as transportation services from ports to warehouses and other destinations are still unavailable in many parts of India.