Primary aluminium producers in India have recently raised the price of P1020 primary ingots by up to INR 3,400 per tonne, leading to a slight uptick in spot prices for P1020 ingots in the Delhi NCR region. However, aluminium scrap prices in India have remained relatively stable with minor fluctuations. Market activity has been sluggish as buyers proceed with caution.
According to BigMint's assessments, tensioned scrap from the US experienced a modest increase of $10 per tonne, reaching $1,960 per tonne, while UK-origin Zorba 95/5 was priced at $2,170 per tonne. However, spot prices for aluminium ADC12 alloy ingots have declined weekly by INR 4,000 per tonne, reaching INR 212,000 per tonne ex-works in Delhi NCR.
Tensioned scrap prices also decreased INR 2,000 per metric ton to INR 183,000 per tonne ex-Delhi, resulting in a scrap-to-ADC12 spread of INR 29,000-30,000 per tonne. Additionally, lower demand and disruptions in cash flow have been observed due to ongoing elections.
