The daily Davis Index for P1020, Friday, dropped by Rs1,133/mt ($15.51/mt) to settle at Rs183,155/mt ex-works India producer after Nalco revised product price this week. Earlier, the two aluminium producers Balco and Hindalco had revised their product prices on March 4 from March 3 on the back of the volatility in the LME spot aluminium prices.
The official LME aluminium spot contract settled at $2,154.5/mt on March 1 down by $68.5/mt from $2,223/mt on Feb 25. Nalco reduced its product prices by Rs3,400/mt ($46.54/mt) on March 1 from Feb 26.
Earlier, Hindalco and Balco had raised product prices by Rs2,000/mt and Rs1,250/mt on March 4 from March 3.
The daily Davis Index for ADC 12 settled at Rs185,361/mt from Rs187,061/mt ex-works India producer prior day down by Rs1,700/mt, while for CG 99.5, the index dropped by Rs1,133/mt to settle at Rs182,738/mt from Rs183,871/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs188,660/mt from Rs189,793/mt ex-works India producer down by Rs1,133/mt.