The daily Davis Index for P1020 on Friday rose by Rs1,750/mt ($23.45/mt) to settle at Rs215,638/mt ex-works India producer after Hindalco and Balco raised their product prices on July 15 from July 14 in sync with the progression in the LME aluminium spot contract.
Balco and Hindalco increased their product prices by Rs2,750/mt ($36.85/mt) and Rs2,500/mt ($33.50/mt), respectively, on July 15 from July 14. The LME aluminium spot contract rose by $31/mt to settle at $2,509/mt on July 14 from $2,478/mt on July 13.
The daily Davis Index for ADC 12 settled at Rs218,211/mt ex-works India producer, up by Rs1,375/mt, while for CG 99.5, the index gained Rs1,750/mt to settle at Rs215,221/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs222,143/mt ex-works India producer advanced by Rs1,750/mt.