The daily Davis Index for P1020 rose by Rs2,417/mt ($33.35/mt) to Rs187,488/mt ex-works India producer, after Hindalco and Balco revised their product prices on Tuesday on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,254/mt from $2,202.50/mt on Mar 17, up by $51.5/mt.
Balco and Hindalco increased their product prices by Rs3,500 ($48.29/mt) and Rs3,750/mt ($51.75/mt) each on Mar 23 from Mar 18.
The daily Davis Index for ADC 12 settled at Rs187,236/mt ex-works India producer, up by Rs1,750/mt, while for CG 99.5, the index rose by Rs2,416/mt to settle at Rs185,071/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs190,993/mt from Rs188,576/mt ex-works India producer, up by Rs2,417/mt.