The daily Davis Index for P1020 on Tuesday rose by Rs2,417/mt ($33.33/mt) to settle at Rs181,905/mt ex-works India producer after Balco and Hindalco revised their product prices on March 16 on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,184.5/mt from $2,139/mt on March 12, up by $45.5/mt. Hindalco and Balco increased their product prices by Rs3,500/mt ($48.26/mt) and Rs3,750/mt ($51.71/mt), respectively.
The daily Davis Index for ADC 12 settled at Rs184,236/mt ex-works India producer, up by Rs1,875/mt, while for CG 99.5, the index rose by Rs2,417/mt to settle at Rs181,488/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs187,410/mt from Rs184,993/mt ex-works India producer, down by Rs2,417/mt.