The weekly Davis Index for P10202 Monday climbed up by Rs300/mt ($7.94/mt) to settle at Rs132,688/mt ex-works India producer from Rs132,388/mt on June 1. Two of India’s three primary producers — Balco, Hindalco — revised their prices in line with the rise in LME spot aluminium prices. LME spot aluminium prices rose to $1,579/mt on June 5, up by $64.mt from $1,515/mt on May 29.
Hindalco revised product prices on June 3 and 4. Balco revised prices on June 6. Balco’s P1020 price rose to Rs 138,500/mt, up by Rs2,500/mt from 136,000/mt, on May 28. Hindalco’s P1020 prices reduced to Rs132,000/mt on June 3, from Rs133,500/mt on June 1. On June 4, Hindalco increased its P1020 prices to Rs133,750/mt, up by Rs1,750/mt from June 3. LME spot aluminium prices jumped by $26.5/mt to $1,555.5/mt on June 3 from a day prior.
Nalco last published its revised product price notice on May 28, when the state-run aluminium producer reduced prices of EC wire rods and AA6201 rods by Rs1,000/mt from May 9.
Downstream industries in Mumbai region opened their offices on Monday with limited staff in adherence to government norms of social distancing. Elsewhere in India, industries are operating at 30-40pc capacity.
The weekly Davis Index for ADC 12 settled at Rs135,961/mt ex-works India producer, up from Rs134,711/mt on prior Monday. The index for CG99.5 settled at Rs132,221/mt ex-works India producer, up from Rs131,305/mt ex-works Indian producer on June 1. The index for EC rod settled at Rs138,476/mt ex-works India producer, up from Rs137,560/mt Monday.