The daily Davis Index for P1020 on Wednesday dropped by Rs750/mt ($10.27/mt) to settle at Rs166,555/mt ex-works India producer after Balco dropped its product prices on Jan 20 from Jan 19 in sync with the drop in spot aluminium prices on LME.
The official LME spot contract settled at $1,951.5/mt from $1,979.5/mt on Jan 18, down by $28/mt.
Balco dropped its prices by Rs2,250/mt ($30.82/mt) on Jan 20 from Jan 19.
The daily Davis Index for ADC 12 settled at Rs169,461/mt ex-works India producer, down by Rs1,125/mt, while for CG 99.5, the index dropped by Rs750/mt to settle at Rs166,138/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs172,060/mt from Rs172,810/mt ex-works India producer, down by Rs750/mt.