Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The daily Davis Index for P1020 on Monday dropped by Rs1,584/mt ($21.62/mt) to settle at Rs181,571/mt ex-works India producer after Balco and Hindalco revised their product prices on March 5 and 6, on the back of the volatility in the spot aluminium prices on LME.

The official LME aluminium spot contract settled at $2,169/mt on March 4, down by $34/mt, and at $2,185/mt on March 5, down by $18/mt from March 3. On the back of this drop, Hindalco reduced product prices by Rs2,750/mt ($37.55/mt) on March 5 and Balco by Rs2,000/mt ($27.31/mt) on March 6.

Earlier, Hindalco and Balco had raised their product prices by Rs2,000/mt and Rs1,250/mt, respectively, on March 4. Nalco had reduced its product prices by Rs3,400/mt on March 1 from Feb 26.

The daily Davis Index for ADC 12 settled at Rs184,361/mt ex-works India producer, down by Rs1,000/mt, while for CG 99.5, the index dropped by Rs1,583/mt to settle at Rs181,155/mt ex-works India producer. 

The daily Davis Index for EC Rod settled at Rs187,076/mt ex-works India producer, down by Rs1,584/mt.


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