The weekly Davis Index for ADC 12 settled at Rs116,167/mt ex-works Delhi producer on Monday, up by Rs1,834/mt($24.47/mt). A spike in demand from two and four-wheeler manufacturers gave prices a lift. However, the support could be short-lived with the realization of pent up demand from auto manufacturers.
Davis Index heard trades of ADC 12 at Rs113,000/mt ex-works North India consumer, but the producers in North India refused to confirm trades at this level.
The Davis Index for ADC 12 settled at Rs120,750/mt on Monday, ex-works Mumbai producer, up by Rs2,417/mt ($32.25/mt) from the prior week, driven by an increase in the input cost. Tense import prices surged to Rs95,000/mt in the domestic market on the back of rising demand from alloy makers.
The weekly Davis Index for LM6 settled at Rs144,240/mt, up by Rs2,240/mt($29.89/mt) ex-works Mumbai producer on sustained demand from the power sector.
Few exporters offered ADC 12 alloys at $1,540- 1,575/mt cfr China, but Chinese buyers refused to bid above $1,480/mt level. Manufacturers were reluctant to lower offers with a revival in domestic demand.
Alloy makers state prices of secondary alloys will be supported by growing demand from two and four-wheelers in the market.