The daily Davis Index for P1020 on Monday dropped by Rs2,500/mt ($34.10/mt) to settle at Rs207,905/mt from Rs210,405/mt ex-works India producer, after Balco and Hindalco revised their product prices on May 15. Earlier, these two primary aluminium companies had revised their product prices on May 11.
Balco and Hindalco dropped their product prices by Rs3,000/mt ($40.92/mt) each.
The official LME aluminium spot contract settled at $2,438/mt on May 14 from $2,474/mt on May 12 down by $36/mt.
The daily Davis Index for ADC 12 settled at Rs212,361/mt ex-works India producer, down by Rs1,500/mt, while for CG 99.5, the index dropped by Rs2,500/mt to settle at Rs207,488/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs213,410/mt from Rs215,910/mt ex-works India producer, up by Rs2,500/mt.