The daily Davis Index for P1020 Thursday dropped by Rs1,250/mt ($16.90/mt) to settle at Rs144,738/mt down from Rs145,988/mt ex-works. India producers Balco and Hindalco Wednesday dropped their product prices by Rs2,250/mt ($30.44/mt) and Rs1,500/mt($20.96/mt) respectively.
Earlier Hindalco, Balco dropped their product prices by Rs1,250/mt on Sep19 and Sep 18 from Aug 22.
The spot aluminium prices on LME dropped by $26.5 to settle at $1,718.5/mt on Sep 23 from Sep 17 and by $25/mt from Sep 18, respectively.
The Index for ADC 12 Thursday settled at Rs147,986/mt, down by Rs1,125/mt from Rs149,111/mt ex-works India producer.
The index for CG99.5 Thursday settled at Rs144,321/mt, down by Rs1,250/mt from Rs145,571/mt ex-works India producer on Thursday.
The index for EC rod settled at Rs150,243/mt, down by Rs1,250/mt from Rs151,493/mt, ex-works India producers on Thursday.