The daily Davis Index for P1020 Friday rose by Rs1,250/mt ($16.70/mt) to Rs140,788/mt from Rs139,538/mt ex-works India producer Thursday, after Hindalco and Balco increased their product prices on July 24, in line with the spot aluminium prices on LME.
Hindalco and Balco increased prices by Rs2,000/mt($26.73/mt) and Rs1,750/mt($23.38/mt), respectively, on July 24 from July 17, in line with the spot aluminium prices on LME. The LME spot aluminium prices rose by $34/mt to $1,661/mt on July 23 from $1,627/mt on July 16.
Hindalco increased its P1020 price to Rs143,750/mt Friday from Rs141,750/mt on July 17. Balco increased its P1020 price to Rs144,750/mt Friday from Rs143,000/mt on July 17.
Earlier both the companies had reduced their product prices by Rs2,250/mt on July 17 from July 10.
The third aluminium producer, Nalco, has not responded to the price changes on LME. Nalco had reduced its product price by Rs2,700/mt on July 18 from July 10.
The Davis Index for ADC 12 Friday settled at Rs143,186/mt, up by Rs875/mt($11.69/mt) from Rs142,311/mt, ex-works India producer on Thursday.
The index for CG99.5 Friday settled at Rs140,371/mt, up by Rs1,250/mt from Rs139,121/mt ex-works India producer Thursday.
The index for EC rod Friday settled at Rs146,293/mt, up by Rs1,250/mt from Rs145,043/mt ex-works India producer Thursday.