The daily Davis Index for P1020 gained by Rs3,333/mt ($44.88/mt) to settle at Rs225,988/mt ex-works India producer after all three primary producers increased their product prices on Aug 17 and 18. Earlier the producer had increased prices on Aug 13.
Balco and Hindalco increased product prices by Rs2,500/mt ($33.67/mt) as LME spot prices advanced by $31/mt to settle at $2,633/mt on Aug 17 from $2,602/mt on Aug 12. Nalco increased product prices by Rs5,000/mt($67.33/mt) on August 17 from August 6 driven by a $60.5/mt advancement in LME spot aluminium prices. The LME spot aluminium settled at $2,644/mt on August 16 from $2,583.5/mt on August 5.
The daily Davis Index for ADC 12 settled at Rs229,111/mt ex-works India producer, up byRs3,750/mt. The index for CG 99.5 gained Rs3,333/mt to settle at Rs225,571/mt ex-works India producer.
The daily Davis Index for EC Rod also increased by Rs3,334/mt to settle at Rs231,160/mt ex-work India producer.