The daily Davis Index for P1020 Wednesday dropped by Rs1,333/mt ($18.09/mt) to settle at Rs153,555/mt from Rs154,888/mt ex-works India producer Tuesday after Balco and Hindalco dropped their product prices in line with the weakness in the spot aluminium prices on LME on October 20.
Balco’s P1020 price dropped to Rs155,250/mt ex-India producer, down by Rs2,000/mt ($27.15/mt) from Oct 20, while Hindalco slashed prices to Rs154,750/mt from Rs156,750/mt ex-India producer.
The daily Davis Indexes for ADC 12 dropped by Rs1,000/mt to settle at Rs156,836/mt ex-works India producer and for CG 99.5 dropped to Rs153,138/mt ex-works India producer, down by Rs1,333/mt.
The daily Davis Index for EC rod dropped by Rs1,333/mt to settle at Rs159,060/mt ex-works India producer.
The LME spot aluminium prices dropped to $1,826/mt down by $22/mt from $1,848/mt on October 19.