The daily Davis Index for P1020 on Wednesday rose by Rs1,750/mt ($23.55/mt) to settle at Rs188,838/mt ex-works India producer, after Balco and Hindalco revised their product prices on April 7 on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,247/mt on April 6 from $2,212.5/mt on April 5, up by $34.5/mt.
Balco rose its product prices twice on April 6 and April 7, by Rs2,250/mt and Rs2,500/mt, respectively. Hindalco rose its product prices by Rs4,250/mt ($57.20/mt) on April 7 from March 31.
The daily Davis Index for ADC 12 settled at Rs189,786mt ex-works India producer, up by R1,250/mt, while for CG 99.5, the index rose by Rs1,750/mt to settle at Rs188,421/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs194,343/mt from Rs192,593/mt ex-works India producer, up by Rs1,750/mt.