The daily Davis Index for P1020 on Wednesday rose by Rs416/mt ($5.69/mt) to settle at Rs168,021/mt ex-works India producer after Balco raised its product prices on Jan 6 in sync with the rise in spot aluminium prices on LME.
The official LME spot contract settled at $2,013.5/mt Jan 4, up by $35.5/mt from $1,978/mt on Dec 31.
Balco raised its product prices by Rs1,250/mt($17.10/mt) on Jan 6 after increasing them by Rs6,250/mt ($85.35/mt) on Jan 5.
The daily Davis Index for ADC 12 settled at Rs171,286/mt, up by Rs625/mt from Rs170,661/mt ex-works India producer on Tuesday, while for CG 99.5, the index rose by Rs417/mt to settle at Rs167,605/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs173,526/mt ex-works India producer, up by Rs416/mt.