The daily Davis Index for P1020 rose by Rs334/mt ($4.40/mt) to settle at Rs137,805/mt ex-works India producer on Tuesday, from Rs137,471/mt ex-works on prior Friday.
State-owned producer Nalco increased its aluminium product prices by Rs1,000/mt on Tuesday. These prices are applicable from June 20. The price change was driven by an increase in LME spot aluminium prices. Spot aluminium prices rose by $4.5/mt to settle at $1,578/mt on June 19 from $1,573.5/mt on June 16.
Nalco’s revised P1020 price has been raised by Rs1,000/mt to Rs140,350/mt ex-works India producer from Rs139,350/mt on June 17. The price revision is expected to raise input cost for primary aluminium downstream industries.
The company had last reduced its product prices by Rs2,600/mt on June 17 from June 11 in response to the change in spot aluminium prices on LME from June 10 to June 16.
Earlier, other two primary aluminium producers, Balco and Hindalco had raised their prices by Rs2,000/mt and Rs1,750/mt, respectively, on June 18, in line with the LME spot aluminium prices. LME spot aluminium prices were at $1,577.5/mt on June 17, up by $17.5/mt from June 12.
The Davis Index for ADC 12 settled at Rs140,836/mt ex-works India producer on Tuesday, up by Rs2,225/mt($26.77/mt) from Rs138,611/mt on Friday.
The index for CG99.5 settled at Rs137,388/mt ex-works India producer, up by Rs333/mt from Rs137,055/mt on Friday. The index for EC rod settled at Rs143,643/mt, up by Rs333/mt from Rs143,310/mt ex-works India producer on June 19.