The daily Davis Index for P1020 dropped by Rs2,333/mt ($31.36/mt) to settle at Rs223,655/mt ex-works India producer after two primary producers lowered their product prices on Aug 19. Earlier the producers had increased prices on Aug 18.
Balco and Hindalco reduced their product prices by $3,500/mt ($47.05) on Aug 19 from Aug 18. Earlier, both the companies had increased product prices by Rs2,500/mt on Aug 17 from Aug 13. The LME spot aluminium settled at $2,589.5/mt on Aug 18 from $2,633/mt on Aug 17, down by $43.5/mt.
The daily Davis Index for ADC 12 settled at Rs227,361/mt ex-works India producer, down Rs1,750/mt. The index for CG 99.5 lowered by Rs2,333/mt to settle at Rs223,238/mt ex-works India producer.
The daily Davis Index for EC Rod is also down by Rs2,334/mt to settle at Rs228,826/mt ex-work India producer.