The daily Davis Index for P1020 on Wednesday rose by Rs4,133/mt ($55.29/mt) to settle at Rs158,588/mt ex-works India producer after Balco and Nalco revised their product prices in sync with the sharp rise in spot aluminium prices on LME.
Balco’s P1020 price rose to Rs162,500/mt ex-India producer on Wednesday, up by Rs4,500/mt($60.20/mt) from Tuesday. The spot aluminium prices rose by$56.5/mt to settle at $1,891/mt on Tuesday, November 3.
Nalco’s P1020 price rose to Rs162,950/mt ex-India producer, up by Rs7,900/mt($105.69/mt). Though Nalco increased its prices on Nov 1 by Rs3,400/mt, the PSU did not update its product notice on the company website after Oct 28.
The daily Davis Indexes for ADC 12 settled at Rs163,011/mt ex-works India producer, up by Rs6,200/mt and for CG 99.5 rose by Rs4,133/mt to Rs158,171/mt ex-works India producer.
The daily Index for EC rod dropped by Rs4,133/mt to settle at Rs164,093/mt ex-works India producer.