The daily Davis Index for P1020 on Thursday rose by Rs500/mt ($6.78/mt) to Rs169,405/mt ex-works India producer after Balco and Hindalco raised their prices on Thursday after reducing them on Dec 9. This rise is in sync with the volatile spot aluminium prices on LME.
The official LME spot contract settled at $2,010/mt on Dec 9, up by $24/mt from $1,986/mt on Dec 8.
Balco increased its P1020 prices by Rs1,500/mt($20.35/mt) on Dec 10 — after reducing them by Rs1,250/mt on Dec 9 – to settle at Rs170,500/mt. Hindalco also increased its P1020 prices by Rs1,500/mt to settle at Rs170,750/mt.
The daily Davis Indexes for ADC 12 settled at Rs172,611/mt ex-works India producer, up by Rs750/mt, and for CG 99.5 rose by Rs500/mt to Rs168,988/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs174,910/mt ex-works India producer, up by Rs500/mt.