The daily Davis Index for P1020 Monday dropped by Rs1,583/mt ($21.34/mt) to settle at Rs147,305/mt ex-works India producer on Friday. Balco and Hindalco dropped their product prices by Rs1,750($23.59/mt) and Rs3,000/mt($40.44/mt) on August 22, from August 20 and August 21, respectively, in line with the spot aluminium prices on LME.
The spot aluminium prices on LME dropped to $1,722.5/mt on August 21, down by $33/mt from $1,755.5/mt on August 20.
Earlier, Hindalco had increased its product prices by Rs1,250/mt on August 21 from August 20 in line with the spot aluminium prices that rose to $1,755.5/mt on August 20, up by $9/mt.
The Index for ADC 12 Monday settled at Rs150,461/mt ex-works India producer, down by Rs875/mt from Rs151,336/mt on Friday. The index for CG99.5 settled at Rs146,888/mt on Monday, down by Rs1,583/mt from Rs148,471/mt ex -works India producer on Friday.
The index for EC rod Monday settled at Rs152,810/mt ex-works India producer, down by Rs1,583/mt from Friday.