The index for P1020 settled at Rs132,255/mt ex-works India producer on Monday, down by Rs333/mt from Rs132,588/mt on last Monday. Only one of the three Indian primary aluminium producers, Balco revised its product prices on May 9, in line with the LME spot aluminium prices. LME spot aluminium prices settled at $1,450/mt Friday, down by $23/mt from April 24.
Downstream industries have started resuming production at reduced levels subject to availability of workers and a slow revival in demand from the power and construction sectors.
Balco dropped P1020 price by Rs1,000/mt to Rs133,500/mt on May 9 from April 25. Nalco had last revised prices on May 1. Hindalco, however, has held its prices unchanged since April 17.
Before May 1, Nalco had earlier dropped prices on April 23 and April 27 in line with LME spot aluminium prices.
The weekly index for ADC 12 settled at Rs134,761/mt ex-works India producer, down by Rs500/mt from Rs135,261/mt ex-works India producer.
The weekly index for CG99.5 settled at Rs131,838/mt ex-works India producer, down by Rs333/mt from Rs132,171/mt ex-works India producer. The index for EC rod settled at Rs138,426/mtt, down by Rs334/mt from Rs138,760/mt ex-works India producer from the prior week.