The daily Davis Index for P1020 on Monday dropped by Rs2,084/mt ($27.84/mt) to settle at Rs198,871/mt from Rs200,955/mt ex-works India producer after Balco and Hindalco revised their product prices on April 17. Earlier, the three primary aluminum companies — Hindalco, Balco and Nalco — had revised their product prices on April 16 from April 9 on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,308.5/mt on April 16 from $2,328/mt on April 15, down by $19.5/mt.
Balco dropped its product prices by Rs3,000/mt ($40.08/mt) and Hindalco dropped prices by Rs3,250/mt ($43.49/mt).
The daily Davis Index for ADC 12 settled at Rs200,611/mt ex-works India producer, down by Rs1,500/mt, while for CG 99.5, the index dropped by Rs2,083/mt to settle at Rs198,455/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs204,376/mt from Rs206,460/mt ex-works India producer, down by Rs2,084/mt.