The weekly Davis Index for Indian ADC12 fell by Rs667/mt ($9.25/mt) to Rs116,000/mt ex-works Delhi on Monday, driven by weak domestic and export demand. Seaborne trades of ADC12 to China remained subdued impacting its prices.
Die casters in South India claimed to have purchased ADC12 at Rs112,000/mt, manufacturers, however, refused to confirm deals at this rate. Demand for die casting parts in southern India dropped from the prior week.
In other markets, alloy manufacturers in Kolkata sold ADC12 at Rs114,000/mt. Davis Index heard ADC12 rates at Rs127,000/mt ex-works Pune producer, however, no deals were reported. Prices for ADC12 ex-works Mumbai dropped by Rs750/mt to Rs116,250/mt from the week prior.
The Davis Index for LM6 settled flat at Rs145,000/mt ex-works Mumbai producer.
Silicon prices continued to soar with 553 silicon grades priced at Rs180,000mt, up from Rs116,000mt a month ago as its shortage continued. The price hike, however, had a limited impact on selling cost of alloys as markets remained silent.
The index for tense rose by $3/mt to settle at $1,028/mt cfr India on Monday, from the prior week. The index for Taint/Tabor dropped by $20/mt and settled at $1,015/mt cfr India. Availability of imported tense and T/T is likely to be affected due to shortage of containers and vessels on seaborne trade routes.