The daily Davis Index for P1020 on Thursday dropped by Rs167/mt ($2.29/mt) to settle at Rs166,388/mt ex-works India producer after Balco and Hindalco revised their product prices on Jan 21 and Jan 20, respectively, in sync with the volatility in spot aluminium prices on LME.
The official LME spot contract settled at $1,976/mt on Jan 20, up by $24.5/mt from $1,951.5/mt Jan 19.
Balco rose its prices by Rs1,750/mt on Jan 21 after dropping them by Rs2,250/mt on Jan 20. Hindalco dropped prices by Rs2,250/mt on Jan 20 from Jan 19.
The daily Davis Index for ADC 12 settled at Rs170,336/mt ex-works India producer, up by Rs875/mt, while for CG 99.5, the index dropped by Rs167/mt to settle at Rs165,971/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs171,893/mt from Rs172,060/mt ex-works India producer, a drop of Rs167/mt.