The daily Davis Index for P1020 rose by Rs1,200/mt ($16.16/mt) to settle at Rs223,121/mt ex-works India producer after Balco and Hindalco increased their product prices on Aug 7 from Aug 5 and Nalco dropped its prices on August 6 from July 31.
Hindalco and Balco increased their product prices by Rs3,500/mt ($47.15/mt) on August 7 from August 5, on a $43/mt gain in the spot aluminium prices. The LME spot prices dropped by $43/mt to settle at $2,618.5/mt on August 6 from $2,575.5/mt on August 4. Nalco reduced its product prices by Rs3,400/mt($45.80/mt) on August 5 driven by $40.5/mt drop in the LME spot aluminium prices. The LME spot aluminium prices dropped to $2,583.5/mt on August 5 from $2,624/mt on July 30.
The daily Davis Index for ADC 12 advanced by Rs50/mt to settle at Rs225,861/mt ex-works India producer. The index for CG 99.5 dropped by Rs1,200/mt to settle at Rs222,905/mt ex-works India producer.
The daily Davis Index for EC Rod also declined by Rs1,200/mt to settle at Rs228,493/mt ex-works India producer.
($1= Rs74.22)