The daily Davis Index for P1020 on Thursday rose by Rs4,450/mt ($59.72/mt) to settle at Rs214,738/mt ex-works India producer after Balco and Nalco lifted their product prices on July 1 and June 30 in sync with the gain in the LME aluminium spot contract.
Responding to the jump in LME aluminium spot contract, Balco increased its product prices by Rs3,750/mt ($50.32/mt) on July 1. Nalco increased its product prices by Rs9,600/mt ($128.83/mt) on June 30 from June 25. LME aluminium cash rose by $121/mt to settle at $2,523/mt on June 29 from last week.
The daily Davis Index for ADC 12 settled at Rs217,861/mt ex-works India producer, up by Rs6,675/mt, while for CG 99.5, the index increased by Rs4,450/mt to settle at Rs214,321/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs220,243/mt ex-works producer up by Rs4,450/mt.