The daily Davis Index for P1020 on Tuesday dropped by Rs250/mt ($3.41/mt) to settle at Rs169,805/mt ex-works India producer after Balco and Hindalco dropped their product prices in sync with the rise in spot aluminium prices on LME.
The official LME spot contract settled at $2,008/mt on Jan 11, down by $21.5/mt from $2,029.5/mt on Jan 8.
Primary producers, Balco and Hindalco, dropped prices by Rs1,500/mt each on Tuesday.
The daily Davis Index for ADC 12 settled at Rs172,961/mt ex-works India producer, down by Rs750/mt, while for CG 99.5, the index dropped by Rs250/mt to settle at Rs169,388/mt ex-works India producer.
The daily Davis Index for EC Rod fell by Rs 250/mt to Rs175,310/mt ex-works India producer.