The daily Davis Index for P1020 on Monday rose by Rs1,166/mt ($16.01/mt) to settle at Rs203,071/mt ex-works India producer after Balco and Hindalco revised their product prices on June 5 from June 4.
Both the aluminium majors raised their product prices by Rs1,750/mt ($24.03/mt) on June 5 from June 4 followed by a climb in LME aluminium spot contract. The official LME aluminium spot contract settled at $2,412.5/mt on June 4 from $2,386.5/mt on June 3 up by $26/mt.
Earlier Balco and Hindalco had dropped their product prices by Rs5,000/mt and Rs4,000/mt, respectively, on June 4 from June 2. Nalco on the other hand had increased prices by Rs8,000/mt on June 1 from May 27.
The daily Davis Index for ADC 12 settled at Rs205,861/mt ex-works India producer, up by Rs875/mt, while the index for CG 99.5, rose by Rs1,167/mt to settle at Rs202,655/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs208,576/mt ex-works India producer, up by R1,166/mt.