The daily Davis Index for P1020, Monday, fell by Rs2,700/mt ($36.38/mt) to settle at Rs220,955/mt ex-works India producer after Nalco lowered their product prices on Aug 20. Earlier the producers had increased prices on Aug 17 by Rs5,000/mt.
Nalco dropped its product prices byRs8,100/mt ($109.17/mt) on Aug 20 from Aug 17. Earlier Balco and Hindalco had reduced their product prices by $3,500/mt on Aug 19 from Aug 18.
The LME spot aluminium contract settled at $2,544/mt on Aug 19 from $2,644/mt on Aug 16, down by $100/mt.
The daily Davis Index for ADC 12 settled at Rs223,311/mt ex-works India producer, down by Rs4,050/mt. The index for CG 99.5 dropped by Rs2,700/mt to settle at Rs220,538/mt ex-works India producer.
The daily Davis Index for EC Rod also fell by Rs2,700/mt to settle at Rs226,126/mt ex-work India producer.