The daily Davis Index for P1020 Wednesday dropped by Rs417/mt ($5.57/mt) to settle at Rs147,371/mt from Rs147,788/mt ex-works India producer on August 11. Hindalco released its product price notice late evening on August 11, reducing its product prices by Rs1,250/mt ($16.70/mt) in line with the spot aluminium prices on LME. Balco has also reduced product prices on Tuesday.
Hindalco dropped its P1020 price to Rs149,500/mt on August 11 from Rs150,750/mt on August 8. Nalco has so far not revised product prices from August 7.
The spot aluminium prices on LME dropped by $14/mt to $1,730/mt on August 10 from August 7.
The index for ADC 12 Wednesday was unchanged at Rs150,186/mt from ex-works India producer on Tuesday.
The index for CG99.5 Wednesday settled at Rs147,371/mt, down by Rs416/mt from Rs Rs146,955/mt ex-works India producer Tuesday.
The index for EC rod Wednesday settled at Rs152,876/mt from Rs153,293/mt Tuesday, down by Rs417/mt ex-works India producers.