The daily Davis Index for P1020 on Monday rose by Rs1,966/mt ($26.94/mt) to settle at Rs167,671/mt ex-works India producer after three aluminium producers revised their product prices on February 5-6 amid volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,007.5/mt on February 5 from $1,958/mt on February 2 up by $49.5/mt.
Hindalco and Balco rose their product prices by Rs3,750/mt ($51.38/mt) on February 6. Nalco reduced its prices by Rs1,600/mt ($21.93/mt) on February 5 from 28 Jan, in line with drop of $24/mt in the spot aluminium prices between Jan 27-Feb 4. The official LME spot contract settled at $1,979.5/mt on February 4 from $2,003.5/mt on Jan 27.
The daily Davis Index for ADC 12 settled at Rs170,386/mt ex-works India producer, up by Rs1,075/mt, while for CG 99.5, the index rose by Rs1,966/mt to settle at Rs167,255/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs173,176/mt ex-works India producer, up by Rs1,966/mt.