The daily Davis Index for P1020 on Tuesday dropped by Rs1,166/mt ($15.63/mt) to settle at Rs211,955/mt ex-works India producer after Balco dropped its product prices on July 20 from July 16 following the decline in LME aluminium spot contract.
Responding to the weakness in the LME aluminium spot contract, Balco dropped its product prices by Rs5,000/mt($67.02/mt) on July 20 from July 15. The LME aluminium spot contract dropped by $84/mt to settle at $2,425/mt on July 19 from $2,509/mt on July 14.
The daily Davis Index for ADC 12 settled at Rs215,686/mt ex-works India producer, down by Rs2,200/mt while for CG 99.5, the index fell by Rs1,167/mt to settle at Rs211,538/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs217,460/mt ex-works India producer down by Rs1,166/mt.