The Davis Index for P10202 rose by Rs83/mt($1.09/mt) to settle at Rs132,388/mt ex-works India producer, from Rs132,305/mt on May 22. All the three primary producers; Balco, Nalco and Hindalco revised their prices in line with a rise in LME spot aluminium prices. LME spot aluminium prices rose to $1,515/mt on May 29, up by $28/mt from $1,487/mt on May 21. Balco and Nalco revised their product prices on May 28. Hindalco revised prices on May 30 and June 1.
Balco’s P1020 price was revised to Rs134,750/mt on May 27, down by Rs3,000/mt from Rs137,750/mt on May 22. Balco’s P1020 price rose by Rs1,250/mt to Rs136,000/mt on May 28.
Hindalco raised P1020 price to Rs136,250/mt on May 30, up by Rs2,000/mt from Rs134,250/mt on May 22. Hindalco subsequently reduced P1020 price to Rs133,500/mt on June 1 ex-works India producer from Rs136,250/mt on May 30.
Nalco on May 28 reduced prices of both, EC Wire Road and AA6201 rod by Rs1,000/mt to Rs138,350/mt and Rs140,150/mt. The primary aluminium producer, however, has not changed P1020, Billet, ADC 12 and CG 99.5 prices from May 9.
Downstream industries are waiting for a clear price direction amid slow global and domestic demand on the back of COVID-19. Many industries are operating at 30-40pc capacity. They also continue to struggle with material delivery delays by primary producers.
The weekly Davis Index for ADC 12 settled at Rs134,711/mt on Monday, down from Rs135,211/mt on May 22, ex-works India producer.
The index for CG99.5 settled at Rs131,305/mt down from Rs131,888/mt ex-works Indian producer on May 22. The index for EC rod settled at Rs137,560/mt Monday, down from Rs138,476/mt ex-works India producer on May 22.