The daily Davis Index for P1020 lowered by Rs3,666/mt ($49.27/mt) to settle at Rs219,655/mt ex-works India producer after Balco and Hindalco decreased their product prices on Aug 10 from Aug 7. Earlier, Nalco had dropped its prices on Aug 6 from July 31 by Rs3,400/mt.
Hindalco and Balco dropped their product prices by Rs5,500/mt ($73.93/mt) on Aug 10 from Aug 7, on a $71.5/mt drop in the spot aluminium prices. LME spot prices dropped by $71.5/mt to settle at $2,547/mt on Aug 9 from $2,618.5/mt on Aug 6.
The daily Davis Index for ADC 12 fell by Rs2,750/mt to settle at Rs223,111/mt ex-works India producer. The index for CG 99.5 dropped by Rs3,667/mt to settle at Rs219,238/mt ex-works India producer.
The daily Davis Index for EC Rod also declined by Rs3,667/mt to settle at Rs224,826/mt ex-work India producer.