The daily Davis Index for P1020 Tuesday rose by Rs1,250/mt ($17.09/mt) to settle at Rs146,221/mt ex-works India producer from Monday as primary producers Balco and Hindalco raised prices in line with higher LME aluminium prices. Balco and Hindalco hiked their product prices by Rs2,000/mt($/mt) and Rs1,750/mt ($/mt), respectively, on Oct 6 from Oct 2.
Balco raised P1020 prices to Rs148,500/mt, up by Rs2,000/mt($27.35/mt) from Rs146,500/mt ex-works India producer while Hindalco revised its P1020 prices to Rs148,000/mt, up by Rs1,750/mt($23.93/mt) from Rs146,250/mt ex-works India producer.
The spot aluminium prices on LME rose by $25.5/mt to settle at $1,741.5/mt on Oct 5 from $1,716/mt on Oct 1.
The Index for ADC 12 Tuesday settled at Rs149,0161/mt, up by Rs1,000/mt from Rs 148,061/mt ex-works India producer on Monday.
The index for CG99.5 Tuesday settled at Rs145,805/mt, up by Rs1,250/mt from Rs144,555/mt ex-works India producer on Monday.
The index for EC rod settled at Rs151,726/mt, up by Rs1,250/mt from Rs150,476/mt ex-works India producers on Monday.