The daily Davis Index for P1020 on Monday rose by Rs4,000/mt ($54.53/mt) to settle at Rs210,571/mt ex-works India producer after Balco and Hindalco revised their product prices on May 7-8. Earlier, both the companies had revised their product prices on April 30. The third primary aluminium manufacturer, Nalco, revised its product prices on May 1 from April 27.
Balco and Hindalco increased their product prices by Rs3,250/mt ($44.30/mt) on May 7 and then by Rs2,750/mt ($37.48/mt) on May 8.
The official LME aluminium spot contract settled at $2,518.5/mt on May 7 from $2,432/mt on April 29, up by $86.5/mt.
The daily Davis Index for ADC 12 settled at Rs212,361/mt ex-works India producer, up by Rs3,000/mt, while for CG 99.5, the index rose by Rs4,000/mt to settle at Rs210,155/mt from ex-works India producer.
The daily Davis Index for EC Rod settled at Rs216,076/mt ex-works India producer, up by Rs4,000/mt.