The daily Davis Index for P1020 on Wednesday rose by Rs1,166/mt ($16/mt) to settle at Rs169,671/mt ex-works India producer after two aluminium producers, Hindalco and Balco, revised their product prices due to the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,045.5/mt on Tuesday, from $2,025.5/mt on Feb 8, up by $20/mt.
Hindalco and Balco rose their product prices by Rs1,750/mt ($24.02/mt) on Wednesday.
The daily Davis Index for ADC 12 settled at Rs171,886/mt ex-works India producer, up by Rs8,755/mt, while for CG 99.5, the index rose by Rs1,167/mt to settle at Rs169,255/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs175,176/mt from Rs174,010/mt ex-works India producer, up by Rs1,166/mt.