The daily Davis Index for P1020 on Monday dropped by Rs2,467/mt ($33.78/mt) to settle at Rs165,521/mt ex-works India producer after Balco and Nalco dropped its product prices on Jan 1 in sync with the drop in spot aluminium prices on LME.
The official LME spot contract settled at $1,978/mt on Dec 31, down by $22 from Dec 29 and down by $64.5/mt from Dec 14. Nalco had last revised its product prices on Dec 15.
Balco dropped its product prices by Rs2,500/mt ($34.23/mt) on Jan 1 from Dec 30 to Rs166,750/mt.
Nalco reduced its product prices by Rs4,900/mt($67.09/mt) to Rs167,750/mt, from Rs172,650/mt on Dec 15.
The daily Davis Index for ADC 12 settled at Rs167,538/mt ex-works India producer on Monday, down by Rs3,700/mt while for CG 99.5, the index dropped by Rs2,466/mt to settle at Rs166,105/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs171,026/mt ex-works India producer, down by Rs2,467/mt.
($1=Rs73.03)