The daily Davis Index for P1020 on Monday dropped by Rs233/mt ($3.11/mt) to settle at Rs147,638/mt from Rs147,871/mt ex-works India producer on Friday.
Balco and Hindalco dropped their product prices by Rs250 and Rs1,750/mt, respectively, on August 15 after increasing it on August 12 by Rs1,500/mt in line with the changes in spot aluminium prices. Balco reduced its P1020 price to Rs150,500/mt on August while Hindalco reduced it to Rs149,250/mt.
The third aluminium producer, Nalco, increased prices by Rs1,300/mt on August 15 to Rs150,350/mt in line with the changes in the spot aluminium prices on LME. Earlier. Nalco had increased prices by Rs3,100/mt on August 7.
The spot aluminium prices dropped to $1,730/mt on August 14, down by $19.5/mt from $1,749.5/mt on August 11.
The Index for ADC 12 Monday settled at Rs150,711/mt ex-works India producers, down by Rs525/mt from Rs150,186/mt on Friday.
The index for CG99.5 Monday settled at Rs147,221/mt ex-works India producers down by Rs234/mt while EC settled at Rs153,143/mt ex-works India producers down by Rs233/mt from Rs153,376/mt on Friday.