The daily Davis Index for P1020 dropped by Rs2,167/mt ($29.22/mt) to settle at Rs222,121/mt ex-works India producer after Balco and Hindalco reduced their product prices today.
Hindalco and Balco dropped their product prices by Rs2,000/mt ($26.97/mt) on August 5 from August 4, on a $20/mt drop in the spot aluminium prices. The LME spot prices dropped by $20/mt to settle at $2,575.5/mt on August 4 from $2,595.5/mt on the previous day.
The daily Davis Index for ADC 12 declined by Rs1,000/mt to settle at Rs225,811/mt ex-works India producer. The index for CG 99.5 dropped by Rs2,166/mt to settle at Rs221,705/mt ex-works India producer.
The daily Davis Index for EC Rod also declined by Rs2,167/mt to settle at Rs227,293/mt ex-works India producer.