The daily Davis Index for P1020 on Thursday rose by Rs2,117/mt ($29.06/mt) to settle at Rs171,788/mt ex-works India producer after two aluminium producers, Hindalco and Nalco, revised their product prices on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,070.5/mt on Wednesday from $2,045.5/mt on Feb 9 up by $25/mt.
Hindalco increased its product prices by Rs1,750/mt ($24.02/mt) on Wednesday.
Nalco raised its prices by Rs4,600/mt ($63.14/mt) on the back of $66/mt jump in the LME aluminium spot contract from Feb 4 to Feb 9. The official LME aluminium spot contract rose to $2,045.5/mt from $1,979/mt on Feb 4.
The daily Davis Index for ADC 12 settled at Rs174,186/mt ex-works India producer, up by Rs2,300/mt, while for CG 99.5, the index rose by Rs2,1116/mt to settle at Rs171,371/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs177,293/mt ex-works India producer, up by Rs2,117/mt from Rs175,176/mt ex-works India producer.