The daily Davis Index for P1020 on Thursday dropped by Rs750/mt ($10.26/mt) to settle at Rs167,988/mt ex-works India producer Wednesday after Hindalco dropped its product prices on Dec 30 in sync with the drop in spot aluminium prices on LME.
The official LME spot contract settled at $2,000/mt on Dec 29 down by $22/mt from $2,022/mt on Dec 24.
Hindalco dropped its product prices by Rs2,250/mt ($30.79/mt) on Dec 30. It’s P1020 price settled at Rs169,250/mt.
The daily Davis Index for ADC 12 settled unchanged at Rs171,236/mt ex-works India producer while for CG 99.5, the index dropped by Rs750/mt to settle at Rs167,671/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs173,493/mt ex-works India producer.