The daily Davis Index for P1020 on Wednesday rose by Rs3,417/mt ($46.53/mt) to settle at Rs214,905/mt ex-works India producer after Hindalco and Nalco revised their product prices on Tuesday. Balco had also revised its product prices on Tuesday.
Hindalco increased its product prices by Rs2,750/mt ($37.48) while Nalco increased its product prices by Rs7,500/mt ($102.13/mt) from May 1. Balco had increased its product prices by Rs2,750/mt on earlier on Tuesday.
The official LME aluminium spot contract settled at $2,565/mt on May 10 from $2,518.5/mt on May 7, up by $46.5/mt.
The daily Davis Index for ADC 12 settled at Rs217,486/mt from Rs213,736/mt, ex-works India producer, up by Rs3,750/mt, while for CG 99.5, the index rose by Rs3,417/mt to settle at Rs214,488/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs220,410/mt ex-works India producer, up by Rs3,417/mt.
($1=Rs73.41)