The daily Davis Index for P1020, Thursday, dropped by Rs2,667/mt ($36.51/mt) to settle at Rs225,121/mt ex-works India producer after Balco and Hindalco lowered their product prices on Sep 2 after two consecutive upward revisions in August. Balco and Hindalco dropped their product prices by Rs4,000/mt($54.76/mt) on Sep 2 from Aug 28.  

 

Balco and Hindalco had earlier dropped their product prices by Rs4,000/mt($54.76/mt) on Sep 2 from Aug 28. 

 

The LME spot aluminium contract settled at $2,667.5/mt Sep 1 from $2,673.5/mt on Aug 27 down by $6/mt.

 

The daily Davis Index for ADC 12 settled at Rs228,436/mt ex-works India producer, down by Rs2,000/mt. The index for CG 99.5 gained by Rs2,666/mt to settle at Rs224,705/mt ex-works India producer.

 

The daily Davis Index for EC Rod also advanced by Rs2,667/mt to settle at Rs230,293/mt ex-work India producer.

 

($1= Rs73.05)

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