The daily Davis Index for P1020 on Friday dropped by Rs333/mt ($4.56/mt) to settle at Rs201,905/mt from Rs202,238/mt ex-works India producer after three primary aluminium companies revised their product prices on June 4 and June 1.
Responding to the drop in the LME aluminium spot contracts, Balco and Hindalco dropped their product prices by Rs5,000/mt ($68.47/mt) and Rs4,000/mt ($54.77/mt) on June 4 from June 2. The official LME aluminium spot contract settled at $2,386.5/mt on June 3 from $2,461.5/mt on June 1, down by $75/mt.
Nalco, on the other hand, increased prices by Rs8,000/mt($109.55/mt) on June 1 from May 27 in sync with the official LME aluminium spot contract’s rise of $102/mt to $2,461.5/mt from $2,359.5/mt on May 26. Nalco had earlier revised prices on May 27.
The daily Davis Index for ADC 12 settled at Rs204,986/mt from Rs203,486/mt ex-works India producer, up by Rs1,500/mt, while for CG 99.5, the index dropped by Rs333/mt to settle at Rs201488/mt from Rs201,821/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs207,410/mt from Rs207,743/mt ex-works India producer, dropped by Rs333/mt.