The daily Davis Index for P1020, Thursday, dropped by Rs2,667/mt ($36.51/mt) to settle at Rs225,121/mt ex-works India producer after Balco and Hindalco lowered their product prices on Sep 2 after two consecutive upward revisions in August. Balco and Hindalco dropped their product prices by Rs4,000/mt($54.76/mt) on Sep 2 from Aug 28.
Balco and Hindalco had earlier dropped their product prices by Rs4,000/mt($54.76/mt) on Sep 2 from Aug 28.
The LME spot aluminium contract settled at $2,667.5/mt Sep 1 from $2,673.5/mt on Aug 27 down by $6/mt.
The daily Davis Index for ADC 12 settled at Rs228,436/mt ex-works India producer, down by Rs2,000/mt. The index for CG 99.5 gained by Rs2,666/mt to settle at Rs224,705/mt ex-works India producer.
The daily Davis Index for EC Rod also advanced by Rs2,667/mt to settle at Rs230,293/mt ex-work India producer.
($1= Rs73.05)