The daily Davis Index for P1020 on Monday rose by Rs2,917/mt ($39.18/mt) to settle at Rs213,538/mt ex-works India producer, after Balco and Hindalco increased prices on July 24 from July 20 in sync with the progression in the LME aluminium spot contract.
Responding to the gain in the LME aluminium spot contract, Balco and Hindalco increased their product prices by Rs4,500/mt ($60.46/mt) and Rs4,250 ($57.10/mt), respectively.
The LME aluminium spot contract rose by $67/mt to settle at $2,492/mt on July 23 from $2,425/mt on July 19
The daily Davis Index for ADC 12 settled at Rs215,936/mt ex-works India producer, up by Rs2,250/mt while for CG 99.5, the index rose by Rs2,916/mt to settle at Rs231,121/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs218,710/mt ex-works India producer up by Rs2,917/mt.