The daily Davis Index for P1020 Tuesday dropped by Rs2,167/mt ($29.12/mt) to settle at Rs154,455/mt ex-works India producer after Balco and Hindalco revised their product prices in sync with the spot aluminium prices on LME.
The spot aluminium prices dropped by$43.5/mt to settle at $1,834.5/mt on Nov 2 to settle at $1,786/mt on Oct 29.
Balco’s P1020 price rose to Rs158,000/mt ex-India producer on Monday, up by Rs4,750/mt($63.84mt) from October 29.
Hindalco’s P1020 price rose to Rs157,500/mt ex-India producer on Nov 3, up by Rs1,750/mt($23.52/mt) from October 31. The spot aluminium prices rose to $1,834.5/mt, up by $14/mt from $1,820.5/mt on October 30.
The daily Davis Indexes for ADC 12 settled at Rs156,811/mt ex-works India producer, up by Rs2,375/mt and for CG 99.5 rose by Rs2,167/mt to Rs154,038/mt ex-works India producer.
The daily Davis Index for EC rod dropped by Rs2,167/mt to settle at Rs159,960/mt ex-works India producer.