The daily Davis Index for P1020 on Monday fell by Rs1,733/mt ($23.76/mt) and settled at Rs200,738/mt ex-works India producer after Nalco lowered its product prices by Rs5,200/mt on May 22 from May 19. Balco and Hindalco both revised their product prices on May 20.
Last week, Nalco cut their product prices by Rs11,300/mt on May 19 from May 11.
Responding to the weakness in the LME aluminium spot contract since May 18, Nalco revised its product prices downwards by Rs5,200/mt ($71.28/mt) on May 22 from May 19. Balco decreased its product prices by Rs4,000/mt and Hindalco by Rs3,500/mt on May 20 from May 15.
The official LME aluminium spot contract settled a $2,403/mt on May 21 from $2,468/mt on May 18, down by $65/mt.
The daily Davis Index for ADC 12 settled at Rs203,361/mt ex-works India producer, down by Rs2,600/mt, while for CG 99.5, the index fell by Rs1,734/mt and settle at Rs200,321/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs206,334/mt ex-works India producer, down by Rs1,733/mt.