The daily Davis Index for P1020 Monday rose by Rs834/mt ($11.13/mt) to settle at Rs148,205/mt ex-works India producer from Friday as two primary aluminium producers hiked prices in line with the uptrend in LME spot aluminium prices.
Balco and Hindalco hiked aluminium prices by Rs2,000/mt in line with the rise in LME spot aluminium prices. Both the companies had reduced their product prices by Rs1,500/mt on August 7 from August 6.
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Balco increased P1020 price to Rs152,000/mt on August 8 from Rs150,000/mt on August 7. Hindalco increased its P1020 price to Rs150,750/mt on August 8 from Rs148,750/mt on August 8.
State-owned producer Nalco has not revised its prices since August 7. Nalco increased its product prices by Rs3,100/mt on August 7 from August 1.
The LME spot aluminium prices rose by $22/mt to $1,744/mt on August 7 from August 6.
The Davis Index for ADC 12 Monday settled at Rs150,811/mt, up by Rs250/mt from Rs150,561/mt ex-works India producer on Friday.
The index for CG99.5 Monday settled at Rs Rs147,788/mt up by Rs833/mt from Rs146,955/mt ex-works India producer Friday.
The index for EC rod Monday settled at Rs153,710/mt, up by Rs834/mt from Rs152,876/mt, ex-works India producer Friday.
($1= Rs74.92)