In domestic aluminium market, prices for domestic Taint/Tabor (old sheet) rose while few others settled flat to down on shortage of grades in several parts. Imports of scrap grades and domestic sales are expected to pick up from Jan 4, 2021 once scrap yards resume work after the New Year break.
Manufacturers across India witnessed slowing of demand from the auto sector though export orders from China continued to pour in. Market participants are optimistic that the domestic demand would return in February and March. Some manufacturers reported China revising the price of auto alloys to $2,155/mt, up by $5/mt from $2,150/mt cfr China port in prior week.
The weekly Davis Index for domestic Taint/Tabor (old sheet) settled at Rs119,000/mt del Delhi consumer, up by Rs1,500/mt ($20.43/mt) while in Mumbai it settled at Rs120,000/mt del consumer, up by Rs1,667/mt.
In Delhi, the weekly Index for domestic old cast (Purja/Tense) Tuesday settled at Rs116,000/mt del consumer, down by Rs667/mt while in Mumbai, it remained unchanged at Rs115,000/mt del consumer.
The weekly Davis Index for domestic EC wire Tuesday in Delhi settled at Rs152,000/mt del consumer, up by Rs1,000/mt, but in Mumbai, it decreased by Rs 333/mt at Rs154,000/mt del consumer.
For aluminium utensils, the weekly Davis Index settled at Rs127,000/mt del Delhi consumer, up by Rs333/mt while in Mumbai it remained unchanged at Rs124,000/mt del consumer.
The three-month official contract of aluminium on LME up by $1.5/mt to settle at $2,024.5/mt Dec 24 from $2,023/mt on Dec 21.