The daily Davis Index for P1020 on Monday dropped by Rs3,000/mt ($40.46/mt) to settle at Rs203,171/mt ex-works India producer after Balco and Hindalco reduced their product prices on June 19 from June 16 following drop in the LME aluminium spot contract.
A drop in LME aluminium spot contact resulted in Balco and Hindalco to drop their product prices by Rs4,250/mt ($57.32/mt) and Rs4,750/mt ($64.06/mt) on June 19 from June 16.
The LME aluminium spot contract dropped by $80.5/mt to settle at $2,374/mt on June 18 from June 15 levels.
The daily Davis Index for ADC 12 settled at Rs206,511/mt ex-works India producer, down by Rs2,125/mt, while for CG 99.5, the index dropped by Rs3,000/mt to settle at Rs202,755/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs208,676/mt ex-works India producer, down by Rs3,000/mt.