The daily Davis Index for P1020 Thursday rose by Rs1,216/mt ($16.21/mt) to Rs137,971/mt ex-works India producer from Rs136,755/mt on Wednesday, after Balco and Hindalco increased their product prices by Rs2,250/mt($29.99/mt) and Rs2,000 ($26.66/mt), respectively, on July 9 from July 8 in line with the spot aluminium prices.
This is the second consecutive increase in prices as the two companies had increased their product prices by Rs1,250 and Rs1,750/mt, respectively, on July 8 from July 4.
The LME spot aluminium prices rose by $22.5/mt to $1,619/mt on July 8 from $1,596.5/mt.
However, Nalco dropped its product prices on July 8 by Rs2,100/mt ($28/mt) driven by the $5.5/mt drop in the spot aluminium prices on LME on July 7 to $1596.5/mt from $1,602/mt on June 30. Nalco had last revised its prices on July 1.
The Davis Index for ADC 12 Thursday settled at Rs140,461/mt ex-works India producer, up by Rs75/mt from 140,386/mt on July 8.
The index for CG99.5 Thursday settled at Rs137,555/mt ex-works India producer, up by Rs1,217/mt() from Rs136,338/mt on Wednesday.
The index for EC rod Thursday settled at Rs143,476/mt, up by Rs1,216/mt from Rs142,960/mt ex-works India producer.