The daily Davis Index for P1020 rose by Rs1,667/mt ($22.26/mt) to Rs145,505/mt ex-works India producer from Tuesday, after Hindalco, Balco revised product prices on Wednesday in line with a rise in LME spot aluminium prices.
Indian primary aluminium producers Hindalco and Balco increased their product prices by Rs2,500/mt ($33.39/mt) on August 5 from July 30. The LME spot aluminium prices rose by $28/mt to $1,709.5/mt on August 4 from $1,681.5/mt on July 30.
The index for ADC 12 Wednesday rose by Rs1,250/mt to settle at Rs148,011/mt ex-works India producer from Tuesday.
The index for CG99.5 increased by Rs1,667/mt to settle at Rs145,088/mt ex-works India producer from Tuesday.
The index for EC rod Wednesday settled at Rs151,010/mt ex-works India producer, up by Rs1,667/mt from Tuesday.
Earlier, primary producer Nalco had hiked prices on Saturday.