Indian primary producer Balco hiked product prices by Rs3,250/mt ($43.20/mt) in line with an increase in LME spot aluminium prices on Friday moving the daily Davis Index for P1020 up by Rs1,084/mt ($14.41/mt) to Rs139,055/mt ex-works India producer from Thursday.
Balco has raised prices for the third consecutive time. Earlier, the company had increased its product prices by Rs2,250 and Rs1,250/mt, respectively, on July 9 and July 8.
LME spot aluminium prices rose by $38.5/mt to $1,658.5/mt on July 10 from $1,619/mt. India’s two other primary aluminium producers, Hindalco and Nalco revised prices on July 9 and July 8, respectively.
The Davis Index for ADC 12 Friday settled at Rs142,086/mt ex-works India producer, up by Rs1,625/mt from July 9.
The index for CG99.5 Friday settled at Rs138,638/mt, up by Rs1,083/mt($14.39/mt) from Rs137,555/mt ex-works India producer Thursday.
The index for EC rod Friday settled at Rs144,560/mt, up by Rs1,084/mt from Rs143,476/mt, ex-works India producer Thursday.