The daily Davis Index for P1020 Tuesday dropped by Rs833/mt ($11.33/mt) to settle at Rs154,888/mt from Rs155,721/mt ex-works India producer Monday after Balco and Hindalco dropped their product prices in line with the weakness in the LME spot aluminium prices.
Balco’s P1020 price dropped to Rs157,250/mt on October 20, down by Rs1,250/mt($17.01/mt) from Rs158,500/mt on Oct 17 and Hindalco’s P1020 price dropped to Rs156,750/mt on October 20, down by Rs1,250/mt from Rs158,000/mt on Oct 17.
The daily Davis Index for ADC 12 fell by Rs625/mt to settle at Rs157,836/mt ex-works India producer from Rs158,461/mt on Oct 17.
The daily Davis Index for CG 99.5 Tuesday dropped to Rs154,471/mt, down by Rs834/mt from Rs155,305/mt ex-works India producer on Monday.
The daily Davis Index for EC rod fell by Rs833/mt to settle at Rs160,393/mt from Rs161,226/mt ex-works India producer on Monday.
The LME spot aluminium prices dropped to $1,848/mt on Oct 19, down by $17.5/mt from $1,865.5/mt on Oct 16.