The daily Davis Index for P1020 on Friday fell by Rs1,083/mt ($14.49/mt) to settle at Rs213,655/mt ex-works India producer after Balco reduced their product prices on July 2 and July 1 in sync with the weakness in the LME aluminium spot contract.
Responding to the weakness in the LME, Balco dropped its product prices Rs3,250/mt ($43.50/mt) on July 2 from July 1. The LME aluminium spot contract declined by $23/mt to settle at$2,481/mt on July 1 from June 30.
The daily Davis Index for ADC 12 settled at Rs216,236/mt ex-works India producer, down by Rs1,625/mt, while the index for CG 99.5 fell by Rs1,083/mt to settle at Rs213,238/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs219,160/mt ex-works India producer, down by Rs1,083/mt.