The daily Davis Index for P1020 Monday dropped by Rs1,650/mt ($22.03/mt) to Rs139,538/mt ex-works India producer from Rs141,188/mt Friday, after Hindalco and Nalco dropped product prices on July 17, and July 18, respectively, in line with the spot aluminium prices on LME.
Earlier, Balco dropped their product prices by Rs2,250/mt($30.04/mt), on July 17 from July 10.
The LME spot aluminium prices dropped by $32.5/mt to $1,627/mt on July 16 from $1,659.5/mt on July 9. Hindalco reduced its product prices by Rs2,250/mt on July 17 from July 10.
The spot aluminium prices dropped by $41.5/mt to $1,618/mt on July 17 from July 9. Consequently, Nalco reduced product prices by Rs2,700/mt ($36.05/mt) on July 18, from July 10/.
The Davis Index for ADC 12 Monday settled at Rs142,311/mt, down by Rs1,350/mt from Rs143,661/mt, ex-works India producer on Friday.
The index for CG99.5 Monday settled at Rs139,121/mt ex-works India producer, down by Rs1,650/mt from Rs140,771/ ex-works India producer on Friday.
The index for EC rod Monday settled at Rs145,043/mt, down by Rs1,650/mt from Rs146,693/mt ex-works India producer Friday.