The weekly price index for P1020 settled at Rs135,088/mt ex-works India producer on Monday, up by Rs1,483/mt. Two of three Indian primary aluminium producers, Hindalco and Nalco, revised product prices on April 17, in line with the LME spot aluminium prices. LME spot aluminium settled at $1,482.5/mt Friday, up by $54/mt from April 9, but down by $120/mt since March 18. Hindalco’s present P1020 price is Rs135,000/mt, up by Rs4,500/mt from the previous price revision on March 27.
Extrusion manufacturers are still to resume their operations after the Indian government allowed a partial resumption of production in a few regions where COVID-19 positive cases are low. This is impacting the demand for primary metal. State aluminium producer Nalco, dropped its product prices from March 19. Nalco’s P1020 price is at Rs143,450/mt, down by Rs2,800/mt from March 19. Balco, however, is yet to revise its prices since April 1. Balco’s present P1020 price is at Rs130,250/mt, the same since April 1.
The weekly ADC 12 index settled at Rs137,136/mt ex works India producer, up by Rs200/mt from April 13.
The weekly index for CG99.5 settled at Rs133,488/mt ex works India producer, up by Rs300/mt from the prior week.
The index for EC rod settled at Rs140,176/mt ex works India producer, up by Rs400/mt from the prior week.