The daily Davis Index for P1020 on dropped by Rs2,934/mt ($40.11/mt) to settle at Rs204,971/mt ex-works India producer after Nalco revised their product prices on Wednesday. Earlier, Balco and Hindalco had dropped their product prices by Rs3,000/mt on May 15.
Responding to the weakness in the LME aluminium spot contact, Nalco dropped its product prices by Rs11,300/mt ($154.48/mt) from May 11.
The official LME aluminium spot contract settled at $2,468/mt on May 18 from $2,565/mt on May 10, down by $97/mt.
The daily Davis Index for ADC 12 settled at Rs207,961/mt, ex-works India producer, down by Rs4,400/mt, while for CG 99.5, the index dropped by Rs2,933/mt to settle at Rs204,555/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs210,476/mt ex-works India producer, up by Rs2,934/mt.