The daily Davis Index for P1020 on Tuesday dropped by Rs1,167/mt ($15.90/mt) to settle at Rs183,238/mt ex-works India producer after Balco revised its product prices due to the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,154.5/mt from $2,223/mt on Feb 25 down by $68.5/mt
Balco reduced its prices by Rs5,400/mt ($73.61/mt) on Tuesday, after having increased it earlier by Rs7,250/mt on Feb 26.
The daily Davis Index for ADC 12 settled at Rs185,436/mt ex-works India producer, down by Rs1,750/mt, while for CG 99.5, the index dropped by Rs1,167/mt to settle at Rs182,621/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs188,543/mt from Rs189,710/mt ex-works India producer, a dip of Rs1,167/mt.