The daily Davis Index for P1020 on Wednesday dropped by Rs917/mt ($12.74/mt) to settle at Rs197,238/mt ex-works India producer after Balco and Hindalco revised their product prices.
Responding to the slight rise in the LME aluminium spot contact, Hindalco increased its product prices by Rs2,500/mt ($34.37/mt) on Wednesday. Balco reduced its product prices by Rs5,250/mt from May 20.
The official LME aluminium spot contract settled at $2,341/mt on May 25 from $2,305/mt on May 24, up by $36/mt.
The daily Davis Index for ADC 12 settled at Rs200,736/mt ex-works India producer, down by Rs2,625/mt, while for CG 99.5, the index dropped by Rs917/mt to settle at Rs196,821/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs202,743/mt from Rs203,660/mt ex-works India producer, down by Rs917/mt.