The daily Davis Index for P1020 on Thursday rose by Rs4,284/mt ($58.37/mt) to settle at Rs172,305/mt from Rs168,021/mt ex-works India producer, after all three primary producers raised product prices on Jan 7 in sync with the rise in spot aluminium prices on LME.
The official LME spot contract settled at $2,062.5/mt on Jan 6 from $2,027.5/mt on Jan 5, up by $35/mt.
Balco raised its product prices for the third consecutive day — by Rs3,000/mt after raising it on Jan 6 and Jan 5. It’s P1020 price rose to Rs177,250/mt.
Hindalco raised their product prices by Rs3,000/mt with P1020 now priced at Rs175,000/mt while Nalco increased prices by Rs4,100/mt with P1020 price now at Rs171,850/mt.
The daily Davis Index for ADC 12 settled at Rs174,836/mt ex-works India producer, up by Rs3,550/mt, while for CG 99.5, the index rose by Rs4,283/mt to settle at Rs171,888/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs177,810/mt, up by Rs4,284/mt from Rs173,526/mt ex-works India producer.