The daily Davis Index for P1020 on Tuesday dropped by Rs2,000/mt ($26.79/mt) to settle at Rs213,621/mt ex-works India producer after Hindalco dropped its product prices on July 20 from July 16 in sync with the decline in LME aluminium spot contract.
Responding to the weakness in the LME aluminium spot contract, Hindalco dropped its product prices by Rs6,000/mt ($80.38/mt). The LME aluminium spot contract dropped by $84/mt to settle at $2,425/mt on July 19 from $2,509/mt on July 14.
The daily Davis Index for ADC 12 settled unchanged at Rs217,886/mt ex-works India producer while for CG 99.5, the index fell by Rs2,000/mt to settle at Rs213,205/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs219,126/mt ex-works India producer down by Rs2,000/mt.