The weekly Davis Index for P1020 rose by Rs566/mt ($7.62/mt) to settle at Rs143,121/mt ex works India producer on Monday, from Rs142,555/mt. Prices increased driven by a $34/mt increase in LME spot aluminium prices to $1,677 on March 13 from March 12.
Primary aluminium producers Balco and Hindalco raised their P1020 prices by Rs2,500/mt and Rs3,500/mt, respectively, on March 14. Hindalco’s present P1020 price is at Rs143,500/mt and Balco’s price is at143,300/mt.
Nalco, however, had issued a price change notice on March 12 increasing its prices of P1020 by 2,000/mt to Rs150,550/mt from March 5. But, after the rise in LME aluminium prices on March 13, this state-owned integrated aluminium producer has not revised its prices.
The weekly index for CG99.5 settled at Rs142,705/mt from Rs142,038/mt ex-works India producer, up by Rs397/mt.
The weekly index for ADC 12 increased by Rs1,000/mt and settled at Rs147,061/mt ex-works India producer.
The index for EC rod rose by Rs666/mt to Rs148,726/mt ex-works Indian producer from the prior week.