The Daily Davis Index for P1020 Thursday rose by Rs584/mt($7.96/mt) to Rs137,355/mt ex-works India producer from Rs136,771/mt on Wednesday.
Indian producer, Balco increased prices of primary aluminium by Rs1,750/mt ($23.36/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.
Earlier, Balco had increased the product prices by Rs3,000/mt on June 27 responding to the hike in spot aluminium on LME.
Hindalco, however, did not respond. It increased its product prices by Rs2,750/mt on June 27 from June 26 driven by the rise in the spot Aluminium prices. The spot aluminium prices rose by $38.5/mt to $1,582/mt on June 26 from June 25.
The third Indian producer, Nalco, has so far not responded to increase in the prices since June 27.
The Davis Index for ADC 12 Thursday settled at Rs140,661/mt ex-works India producer, up by Rs875/mt from Rs139,786/mt ex-works India producer on Wednesday.
The index for CG99.5 settled at Rs136,938/mt ex-works India producer Thursday, up by Rs583/mt from Rs136,355/mt ex-works India producer Wednesday. The index for EC rod settled at Rs143,193/mt Thursday, up by Rs583/mt from Rs142,610/mt ex-works India producer Wednesday.