The daily Davis Index for P1020 on Wednesday dropped by Rs1,067/mt ($14.31/mt) to settle at Rs213,888/mt ex-works India producer after Nalco dropped its product prices. Hindalco and Balco raised their product prices on July 14 from July 13 in sync with the rise in the LME aluminium spot contract.
Nalco dropped product prices by Rs3,700/mt ($49.65/mt) on July 14 from its last price notice on July 7 as the LME aluminium spot contract declined by $51.5/mt to settle at $2,478/mt on July 13.
Following the increase in the LME aluminium spot contract after their last price notices, Balco and Hindalco increased product prices by Rs2,500/mt($33.55/mt) on July 14 from July 13.
The daily Davis Index for ADC 12 settled at Rs216,836/mt from Rs218,561/mt ex-works India producer, down by Rs1,725/mt, while daily Davis Index for CG 99.5 declined by Rs1,067/mt to settle at Rs213,471/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs219,393/mt ex-works India producer down by Rs1,067/mt.