The daily Davis Index for P1020 on Thursday dropped by Rs583/mt ($7.89/mt) to settle at Rs169,638/mt from Rs170,221/mt ex-works India producer after Balco dropped its product prices in sync with the rise in spot aluminium prices on LME.
The official LME spot contract settled at $2,009.5/mt from $2,025.5/mt on Jan 13, down by $16/mt.
Balco dropped its product prices by Rs1,750/mt ($23.95/mt) on Jan 14 after increasing it by Rs1,250/mt on Jan 13.
The daily Davis Index for ADC 12 settled at Rs172,711/mt from Rs173,586/mt Wednesday down by Rs875/mt ex-works India producer on Wednesday, while for CG 99.5, the index dropped by Rs584/mt to settle at Rs169,221/mt from Rs169,805/mt ex-works India producer.
The daily Davis Index for EC Rod dropped by Rs 583/mt to Rs175,143/mt ex-works India producer.