The daily Davis Index for P1020 on Tuesday rose by Rs2,084/mt ($28.46/mt) to settle at Rs167,605/mt ex-works India producer after Balco rose its product prices on Jan 5 in sync with the rise in spot aluminium prices on LME.
The official LME spot contract settled at $2,013.5/mt Jan 4, up by $35.5/mt from $1,978/mt on Dec 31.
Balco rose its product prices by Rs6,250/mt ($85.35/mt) on Jan 5 after dropping them by Rs2,500/mt on Jan 1.
The daily Davis Index for ADC 12 settled at Rs170,661/mt ex-works India producer, up by Rs3,125/mt, while for CG 99.5, the index dropped by Rs2,083/mt to settle at Rs167,188/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs173,110/mt from Rs171,026/mt ex-works India producer, up by Rs2,084/mt.