The daily Davis Index for P1020 on Friday rose by Rs7,000/mt ($94.09/mt) to settle at Rs200,955/mt ex-works India producer after primary producers Balco, Hindalco and Nalco revised their product prices on April 16. The change comes on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,328/mt on April 15 from $2,267.5/mt on April 8, up by $60.5/mt.
Hindalco, Balco, and Nalco increased their product prices by Rs7,000/mt each from April 9.
The daily Davis Index for ADC 12 settled at Rs202,111/mt from Rs195,111/mt ex-works India producer, up by Rs7,000/mt, while the index for CG 99.5 also rose by Rs7,000/mt to settle at Rs200,538/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs206,460/mt from Rs199,460/mt ex-works India producer, up by Rs7,000/mt.