The daily Davis Index for P1020 on Thursday fell by Rs1,834/mt ($24.74/mt) to settle at Rs206,171/mt ex-works India producer after Balco and Hindalco reduced their product prices on Wednesday from a day prior in sync with the drop in the LME aluminium spot contract.
Responding to the fall in the LME aluminium spot contact, both the companies revised their prices downwards by Rs3,500 ($47.22/mt) on Wednesday from June 15. The LME aluminium spot contract dropped by $45.5/mt to settle at $2,458.5/mt on Tuesday from June 14.
The daily Davis Index for ADC 12 settled at Rs208,636/mt ex-works India producer, down by Rs1,750/mt, while the index for CG 99.5 rose by Rs1,833/mt to settle at Rs205,755/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs211,676/mt ex-works India producer, down by Rs1,834/mt.