The daily Davis Index for P1020 Thursday rose by Rs833/mt ($11.09/mt) to settle at Rs148,471/mt up from Rs147,638/mt ex-works India producer on Wednesday as primary producers Balco and Hindalco hiked product prices in line with the uptick in LME spot aluminium prices.
Both Balco and Hindalco raised product prices by Rs1,250 ($16.64/mt) on Aug 20 from Aug 15, in line with the changes in spot aluminium prices. Nalco had last revised prices by Rs1,300/mt on Aug 14.
Balco raised P1020 price to Rs151,750/mt from Rs150,500/mt, while Hindalco increased price to Rs150,500/mt on Aug 20 from Rs149,250/mt on Aug 15.
The daily Davis Index for ADC 12 Thursday settled at Rs151,336/mt, up by Rs625/mt from Rs150,711/mt ex-works India producer on Wednesday.
The index for CG99.5 settled at Rs148,055/mt up by Rs834/mt from Rs147,221/mt ex-works India producer Wednesday.
The index for EC rod Thursday settled at Rs154,060/mt, up by Rs917/mt from Rs153,143/mt ex-works India producers Wednesday.
The spot aluminium prices on LME rose to $1,746.5 on Aug 19, up by $16.5/mt from Aug 14.