The daily Davis Index for P1020 on Friday dropped by Rs1,034/mt ($14.17/mt) to settle at Rs166,871/mt ex-works India producer after the three aluminium producers revised their product prices on Thursday and Friday, on the back of the volatility in spot aluminium prices on LME.
The official LME spot contract settled at $1,979/mt on Jan 28 from $2,011.5/mt on Jan 25, down by $32.5/mt.
Hindalco and Balco dropped their product prices by Rs2,250/mt ($30.84/mt) on Jan 29.
Nalco increased its prices by Rs1,400/mt on Thursday responding to the rise in official LME on Jan 27 from their last price revision. The official LME spot aluminium contract rose by $27.5/mt to settle at $2,003.5/mt on Jan 27 from Jan 20. Nalco had earlier revised prices on Jan 21.
The daily Davis Index for ADC 12 settled at Rs170,186/mt ex-works India producer, down by Rs425/mt, while for CG 99.5, the index dropped by Rs1,033/mt to settle at Rs166,455/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs172,376/mt from Rs173,410/mt ex-works India producer, down by Rs1,034/mt.