The weekly Davis Index for P1020 fell by R416/mt ($5.46) to settle at Rs133,605/mt ex-works India producer on Monday. Prices dropped following a $54/mt drop in LME spot aluminium prices to $1,452/mt on April 3 from March 27.
Extrusion manufacturers have shut their operations after India announced a 21-day lockdown on March 25, impacting demand for primary aluminium. Primary aluminium producers Balco dropped their P1020 prices by Rs1,250/mt on April 1 from March 27. Hindalco is yet to publish a revised price notice since March 27. Balco’s present P1020 price is at Rs130,250/mt and Hindalco’s unchanged P1020 price is at Rs131,500/mt.
Nalco has not issued price change notice after March 19, when it reduced P1020 price by Rs4,300/mt to Rs146,250/mt compared to March 12. LME spot aluminium prices have dropped by $129/mt to $1,452/mt on April 3 from March 19.
The weekly index for ADC 12 fell by Rs625/mt to settle at Rs136,936/mt ex-works India producer. The weekly index for CG99.5 settled at Rs133,188/mt ex-works India producer, down by Rs417/mt.
The index for EC rods dropped by Rs417/mt to Rs139,776/mt ex-works India producer from the prior week.