The weekly Davis Index for P1020 remained unchanged at Rs133,605/mt ex-works India producer on Monday. Indian primary aluminium producers have not revised their prices despite a $23.5/mt drop in LME spot aluminium prices which settled at $1,428.5/mt on April 9 from April 3.
Extrusion making remains closed in India amid the lockdown which has already been extended till April 30 in many states. Thus, downstream demand for primary aluminium is nil. Primary aluminium producer Balco had earlier dropped its P1020 prices by Rs1,250/mt on April 1 to Rs130,250/mt from March 27.Hindalco has kept its price flat since March 27 after revising it to Rs131,500/mt.
Nalco’s prices also have remained flat since March 19 after dropping by Rs4,300/mt to Rs146,250/mt from March 12. LME spot aluminium prices have dropped by $152.5/mt to $1,428.5/mt on April 9 from March 19.
The weekly index for ADC 12 remained unchanged at Rs136,936/mt ex-works India producer. The weekly index for CG99.5 settled at Rs133,188/mt ex-works India producer, unchanged from the last week.
The index for EC rods also settled flat at Rs139,776/mt ex-works India producer from the prior week.
($1= Rs76.20)