The daily Davis Index for P1020 on Thursday fell by Rs2,500/mt ($34.18/mt) to settle at Rs202,471/mt ex-works India producer after Balco and Hindalco revised their product prices on May 20. Nalco had previously revised their product prices down by Rs11,300/mt on May 19 from May 11.
Responding to the weakness in the LME aluminium spot contract, Balco dropped its product prices by Rs4,000/mt ($54.69/mt) while Hindalco’s prices were reduced by Rs3,500/mt ($47.86/mt) on May 20 from May 15 levels. The official LME aluminium spot contract settled at $2,402.5/mt on Wednesday, down by $35.5/mt from May 14 levels.
The daily Davis Index for ADC 12 settled at Rs205,961/mt ex-works Indian producer, down by Rs2,000/mt while the index for CG 99.5 fell by Rs2,500/mt to settle at Rs202,055/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs207,976/mt ex-works India producer up by Rs2,500/mt.