Indian ADC 12 aluminium alloy ingot prices declined week on week amid falling LME aluminium prices and subdued festive-season demand. Ex-works Mumbai prices fell to ₹299,000/mt ($3,145/mt) from ₹305,000/mt ($3,208/mt) in the previous week's assessment on October 8, down 1.97%.
Ex-works Delhi prices declined to ₹300,000/mt ($3,155/mt) from ₹304,500/mt ($3,203/mt), marking a 1.48% decrease. Indian-origin ADC 12 offers on a CIF Japan basis eased to $3,025/mt from $3,080/mt in the previous week, down $55/mt, or 1.79%.
INR prices were converted at ₹95.07 per US dollar as of October 15. Regional export prices also weakened week on week.
Chinese-origin ADC 12 ingot prices on a CIF Japan basis averaged $3,050/mt, down $10/mt, while Thailand-origin material on a FOB basis averaged $3,080/mt, declining by $20/mt. Malaysia-origin material averaged $3,000/mt on a FOB basis, down $25/mt. Market participants said imports of aluminium alloys from Malaysia had added to competitive pressure in India's price-sensitive market, where downstream manufacturers remained cautious about fresh purchases during the ongoing festive season.
LME three-month aluminium prices fell by $100.50/mt, or 3.23%, to $3,013.50/mt on October 14 from $3,114/mt on October 7, reinforcing bearish sentiment in the domestic alloy market.
A stronger US dollar, elevated US Treasury yields and concerns over China's demand recovery weighed on prices, while expectations of additional supply from Indonesia and easing concerns over Middle Eastern supply disruptions added to the pressure.
In the scrap market, US-origin 95/3 Zorba offers were heard at $2,600–2,650/mt on October 15, while bids stood at around $2,500/mt, leaving a $100–150/mt gap. Traders reported limited spot availability as sellers were reluctant to offer material at lower prices while international prices remained relatively firm. Sellers were unwilling to reduce offers until they could secure replacement material at equivalent or lower prices. Meanwhile, buyers remained cautious and monitored LME movements before committing to fresh purchases, keeping trading activity subdued.
