The daily Davis Index for P1020 on Thursday dropped by Rs4,500/mt ($61.17/mt) to settle at Rs210,405/mt ex-works India producer after Balco and Hindalco revised their product prices.
Earlier on Tuesday, all three primary aluminium companies had increased heir product prices.
Balco dropped its prices by Rs7,250/mt ($98.56) while Hindalco dropped its product prices by Rs6,250/mt ($84.95/mt) on Thursday.
The official LME aluminium spot contract settled at $2,474/mt on Wednesday from $2,565/mt on May 10, down by $91/mt.
The daily Davis Index for ADC 12 settled at Rs213,861/mt ex-works India producer, down by Rs3,625/mt, while for CG 99.5, the index dropped by Rs4,500/mt to settle at Rs209,988/mt from Rs214,488/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs215,910/mt from Rs220,410/mt ex-works India producer, up by Rs4,500/mt.