The daily Davis Index for P1020 on Tuesday rose by Rs917/mt ($12.49/mt) to settle at Rs211,488/mt ex-works India producer after Balco revised its product prices. Earlier, Balco and Hindalco had revised their product prices on May 8. The third primary aluminium manufacturer, Nalco, last revised its product prices on May 1.
Balco increased its product prices by Rs2,750/mt ($37.48) on Tuesday. It had earlier hiked prices by Rs2,750/mt on May 8.
The official LME aluminium spot contract settled at $2,565/mt on May 10 from $2,518.5/mt on May 7, up by $46.5/mt.
The daily Davis Index for ADC 12 settled at Rs213,736/mt from Rs212,361/mt, ex-works India producer, up by Rs1,375/mt, while for CG 99.5, the index rose by Rs916/mt to settle at Rs211,071/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs216,933/mt from Rs216,076/mt ex-works India producer, up by Rs917/mt.