The daily Davis Index for P1020 Wednesday rose by Rs666/mt ($9.05/mt) to settle at Rs146,821/mt from Rs146,155/mt Tuesday ex-works India producer after Balco increased its product prices by Rs2,000/mt on Sep 16.
Balco and Nalco had earlier reduced their product prices by Rs1,250/mt and Rs2,200/mt, respectively. The third aluminium producer, Hindalco, has so far not responded to the changes in LME spot aluminium prices since August 22.
The spot aluminium price on LME remained volatile since September 1 when it settled at $1,781.5 on Sept 1. The spot aluminium prices rose by $23.5/mt to $1,767/mt on September 15, up from $1,743.5/mt on September 10.
The daily Davis Indexes for ADC 12 settled at Rs149,736/mt ex-works India producer, up by Rs1,000/mt while for CG99.5 settled at Rs146,405/mt ex-works India producer, up by Rs667/mt.
The index for EC rod settled at Rs153,326/mt, up by Rs666/mt from Rs151,660/mt ex-works India producers on Tuesday.