The Daily Davis Index for P1020 Friday rose by Rs1,167/mt($15.61/mt) to Rs137,938/mt ex-works India producer from Rs136,771/mt on Thursday.
Indian producer, Hindalco increased prices of primary aluminium by Rs1,750/mt ($23.41/mt) on July 1 from June 27 driven by the increase in LME spot aluminium prices. The spot aluminium prices rose by $20/mt to $1,602/mt on LME on June 30 from June 26. Hindalco published price notice on late Thursday evening. Earlier, Balco increased prices of primary aluminium by Rs1,750/mt ($23.41/mt).
This is the second consecutive price rise announced by Hindalco and Balco. They had earlier increased the prices by Rs2,750/mt and Rs3,000/mt on June 27 from June 25, and before this, had reduced the prices of their primary metal on June 25 from June 18.
The third Indian producer, Nalco, has not responded since June 27.
The Davis Index for ADC 12 Friday settled unchanged at Rs140,661/mt ex-works India producer from Thursday.
The index for CG99.5 settled at Rs137,521/mt ex-works India producer Friday, up by Rs583/mt from Rs136,938/mt ex-works India producer Thursday. The index for EC rod settled at Rs143,776/mt Friday from Rs143,193/mt Thursday, up by Rs583/mt ex-works India producer.