The daily Davis Index for P1020 on Wednesday dropped by Rs1,000/mt ($13.61/mt) to settle at Rs186,671/mt from Rs187,671/mt ex-works India producer, after Hindalco and Balco revised their product prices on March 31 from March 27 on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,220.5/mt on March 30 from $2,260.5/mt on March 26 down by $40/mt.
Balco and Hindalco dropped their product prices by Rs1,500/mt each on Wednesday.
The daily Davis Index for ADC 12 settled at Rs187,911/mt ex-works India producer, down by Rs750/mt, while for CG 99.5, the index rose by Rs1,000/mt to settle at Rs186,255/mt from ex-works India producer.
The daily Davis Index for EC Rod settled at Rs192,176/mt from Rs193,176/mt ex-works India producer, down by Rs1,000/mt.