The daily Davis Index for P1020 on Friday dropped by Rs567/mt ($7.77/mt) to settle at Rs165,821/mt ex-works India producer after Nalco dropped its product prices on Jan 21 in sync with the volatility in spot aluminium prices on LME.
The official LME spot contract settled at $1,976/mt on Jan 20, down by $22.5/mt from $1,998.5/mt Jan 15.
Nalco dropped its prices by Rs1,700/mt ($23.30/mt) on Jan 21, after previously dropping it by Rs2,000/mt on Jan 16.
The daily Davis Index for ADC 12 settled at Rs169,486/mt ex-works India producer, down by Rs850/mt, while for CG 99.5, the index dropped by Rs566/mt to settle at Rs165,405/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs171,326/mt from Rs171,893/mt ex-works India producer, down by Rs567/mt.