The daily Davis Index for P1020 on Tuesday dropped by Rs3,066/mt ($41.23/mt) and settled at Rs200,105/mt ex-works India producer after Balco and Hindalco reduced their product prices on June 22 from June 19 in sync with the drop in the LME aluminium spot contract. The LME aluminium spot contract dropped by $20.5/mt to settle at $2,353.5/mt Monday from June 18.
Balco and Hindalco dropped their product prices by Rs1,500/mt ($20.17/mt). Nalco revised prices downwards by Rs6,200/mt ($83.40/mt) on June 22 from June 11 responding to a drop of $116.5/mt in LME aluminium spot contract. The LME aluminium spot contract settled at $2,353.5/mt on Monday from levels on June 10.
The daily Davis Index for ADC 12 settled at Rs202,661/mt ex-works India producer, down by Rs3,850/mt, while the index for CG 99.5 declined by Rs3,067/mt to settle at Rs199,688/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs205,610/mt ex-works India producer, down by Rs3,066/mt.