The daily Davis Index for P1020 on Tuesday rose by Rs117/mt ($1.59/mt) to settle at Rs205,305/mt ex-works India producer after Balco revised its product prices on June 15 from June 12. Hindalco and Nalco uploaded their price notices dated June 12 and June 11, respectively, on their websites on Tuesday.
Responding to the rise in the LME aluminium spot contact, Balco increased their product prices by Rs1,750/mt ($23.85/mt) from June 12. Earlier the company had increased its product prices by Rs2,500/mt on June 11.
The official LME aluminium spot contract settled at $2,504/mt on June 14 from $2,490/mt on June 11, up by $14/mt.
Hindalco increased its product prices by Rs2,000/mt($27.26/mt) on June 12 responding to a $31/mt rise in the LME aluminium spot contract on June 11 from $2,459/mt on June 9.
Earlier in the day, Nalco had, however, dropped its product prices by Rs3,400/mt($46.35/mt) in a price change notice dated June 11 uploaded on the company website on Tuesday morning despite $52.5/mt advancement in the LME aluminium spot contract since June 7. After the publication of the index, however, the company published another price notice dated June 11, 2021, increasing its product prices by Rs4,700/mt. Considering the prices in revised notice, Nalco’s P1020 price was at Rs205,950/mt on June 11 from Rs201,250/mt on June 8, up by Rs4,700/mt. According to the earlier notice, the index for P1020 price settled at Rs197,850/mt ex-works from Rs 201,250/mt on June 8.
The daily Davis Index for ADC 12 settled at Rs206,336/mt from Rs207,161/mt ex-works India producer, down by Rs825/mt, while for CG 99.5, the index rose by Rs117/mt to settle at Rs204,888/mt from Rs204,771/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs210,810/mt from Rs210,693/mt ex-works India producer, up by Rs117/mt.