The daily Davis Index for P1020 on Friday dropped by Rs867/mt ($11.76/mt) to Rs168,538/mt ex-works India producer after Nalco reduced their prices on Dec 10 (Thursday) after increasing them Dec 1 in sync with the volatile spot aluminium prices on LME.
The official LME spot contract settled at $2,010/mt on Dec 9, down by $4.5/mt from $2,014.5/mt on Nov 30.
Nalco reduced its product P1020 prices by Rs2,600/mt ($35.28/mt) to settle at Rs171,550/mt.
The daily Davis Index for ADC 12 settled at Rs171,311/mt, down by Rs1,300/mt from Rs172,611/mt ex-works India producer. The index for CG 99.5 dropped by Rs867/mt to Rs168,121/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs174,043/mt ex-works India producer, down by Rs867/mt.