The daily Davis Index for P1020 Tuesday dropped by Rs417/mt ($5.58/mt) to settle at Rs147,788/mt ex-works Indian producer.
Balco decreased its product prices by Rs1,250/mt($16.73/mt) in line with the changes in the spot aluminium prices on LME. Balco and Hindalco had earlier increased their product prices by Rs2,000/mt on August 8.
Balco’s revised P1020 price is at Rs150,750/mt ex-works, from Rs152,000/mt on August 8. Hindalco and Nalco, however, are yet to revise their product prices from August 8, and August 7, respectively.
Spot aluminium prices on LME dropped by $14/mt to $1,730/mt on August 10 from August 7. Earlier, prices had increased by $22/mt to $1,744/mt on August 7 from August 6.
The index for ADC 12, Tuesday, settled at Rs150,186/mt ex-works, down by Rs625/mt on Monday.
The index for CG99.5 Tuesday settled at Rs147,371/mt, down by Rs417/mt from Rs147,788/mt ex-works India producer Monday.
The index for EC rod settled at Rs153,293/mt, down by Rs417/mt from Rs153,710/mt, ex-works India producer Monday.