The daily Davis Index for P1020 Friday rose by Rs1,200/mt ($16/mt) to settle at Rs147,371/mt ex-works India producer after Nalco increased its prices by Rs3,100/mt ($41.35/mt) in line with the rise in spot aluminium prices on LME from August 1.
Hindalco, on the other hand, reduced prices on Friday by Rs1,500/mt after raising them by Rs2,000/mt on Thursday.
Nalco’s P1020 rose to Rs149,050/mt on Friday. The spot aluminium prices on LME rose by $36.5/mt to settle at $1,722/mt on Aug 6 from $1,685.5/mt on July 31.
Hindalco’s P1020 prices dropped to Rs148,750/mt on Friday from Rs150,250/mt on Aug 6. The spot aluminium prices on LME dropped by $17/mt to settle at $1,722/mt on Aug 6 from $1,739/mt on Aug 5.
The third aluminium producer, Balco, has not responded to the changes in spot aluminium prices. Balco had earlier increased prices by Rs2,000/mt on Aug 6 from Aug 5.
The index for ADC 12 Friday settled at Rs150,561/mt, up by Rs1,500/mt from Rs149,011/mt ex-works India producer on Thursday.
The index for CG99.5 Friday settled at Rs146,955/mt, up by Rs1,200/mt from Rs145,755/mt, ex-works India producer Thursday.
The index for EC rod Friday settled at Rs152,876/mt, up by Rs1,200/mt from Rs151,676/mt ex-works India producer Thursday.