The daily Davis Index for P1020, Wednesday, rose by Rs4,083/mt ($55.83/mt) to settle at Rs202,238/mt ex-works India producer after Balco and Hindalco revised their product prices on June 2.
Responding to the spike in the LME aluminium spot contact, Balco and Hindalco increased their product prices by Rs6,250/mt ($85.47/mt) and Rs6,000/mt ($82.05/mt), respectively, on June 2 from May 28. While the official LME aluminium spot contract settled a $2,461.5/mt on June 1 from $2,388/mt on May 27, up by $73.5/mt.
The daily Davis Index for ADC 12 settled at Rs203,486/mt from Rs200,361/mt ex-works India producer, up by Rs3,125/mt, while for CG 99.5, the index rose by Rs4,083/mt to settle at Rs201,821/mt from Rs197,738/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs207,743/mt from Rs203,660/mt ex-works India producer, up by Rs4,083/mt.