The daily Davis Index for P1020 on Tuesday rose by Rs3,433/mt ($46.72/mt) to settle at Rs187,671/mt ex-works India producer, after all three primary producers — Hindalco, Balco and Nalco — revised their product prices on March 27 on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,260.5/mt on March 26, up by $40/mt from March 24.
Balco and Hindalco increased their product prices by Rs2,500/mt and Rs2,250/mt, respectively, while Nalco increased its product prices by Rs5,300/mt.
The daily Davis Index for ADC 12 settled at Rs188,661/mt from Rs186,361/mt ex-works India producer, up by Rs2,300/mt, while for CG 99.5, the index rose by Rs3,434/mt to settle at RS187,255/mt from Rs183,821/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs193,176/mt from Rs189,743/mt ex-works India producer, up by Rs3,433/mt.