The daily Davis Index for P1020 on Thursday dropped by Rs834/mt ($11.34/mt) to settle at $168,821/mt ex-works India producer Wednesday after Hindalco dropped its product prices in sync with the drop in spot aluminium prices on LME.
The official LME spot contract settled at $1,999/mt on Dec 23, down by $32/mt from $2,031/mt on Dec 10.
Hindalco dropped its product prices by Rs2,500/mt($34/mt) to Rs170,250/mt on Thursday, down from Rs172,750/mt on Dec 11.
The daily Davis Index for ADC 12 settled unchanged at Rs171,986/mt ex-works India producer. The index for CG 99.5 dropped by Rs833/mt to settle at Rs168,405/mt ex-works India producer while the index for EC Rod settled at Rs174,326/my, down by Rs834/mt from Rs175,160/mt ex-works India producer.