The Davis Index for P1020, Monday, rose by Rs1,550/mt to Rs136,771/mt ex-works India producer from Rs135,221/mt on Friday.
Indian producers Balco and Hindalco increased prices of primary aluminium by Rs3,000/mt ($39.72/mt) and Rs2,750/mt($36.41/mt), respectively, on June 27 from June 26, driven by an increase in LME spot aluminium prices. Spot aluminium prices rose by $38.5/mt to $1,582/mt on LME on June 26 from June 25.
The third Indian producer, Nalco, however, reduced its product prices by Rs1,100/mt($14.56) on June 27 after raising them by Rs1,000/mt on June 20. Spot aluminium prices remained volatile since Nalco last increased its product prices on June 20. LME spot aluminium price rose by $4/mt to settle at $1,582/mt on June 26, from June 19, before dropping by $38.5/mt to $1,543.5/mt on June 25.
Balco and Hindalco had earlier reduced prices by Rs2,000/mt and Rs1,750/mt, respectively, on June 26. A day earlier, both aluminium producers had earlier reduced their product prices by Rs2,000/mt after raising them on June 18.
Balco raise P1020 price by Rs3,000/mt to Rs139,750/mt ex-works India producer on June 27 from Rs136,750/mt on June 26. Hindalco had raised price by Rs2,750/mt to Rs138,500/mt ex-works producer on Friday from Rs135,500/mt on June 26. Nalco cut its P1020 price by Rs1,100/mt to Rs139,250/mt on June 27 from Rs140,350/mt on June 20.
The Davis Index for ADC 12 Friday settled at Rs139,786/mt ex-works India producer, up by Rs950/mt from Rs138,836/mt ex-works India producer on Friday.
The index for CG99.5 settled at Rs136,355/mt, up by Rs1,550/mt from Rs134,805/mt ex-works India producer Friday. The index for EC rod settled at Rs142,610/mt, up by Rs1,550/mt from Rs140,060/mt ex-works India producer Friday.
(Rs1=Rs75.51)