The daily Davis Index for P1020 on Wednesday dropped by Rs416/mt ($5.65/mt) to Rs168,905/mt ex-works India producer after Balco reduced its prices in line with the drop in spot aluminium prices on LME.
The official LME spot contract settled at $1,986/mt on Dec 8, from $2,004/mt on Dec 7, down by $18/mt.
Balco reduced its P1020 prices by Rs1,250/mt($16.99/mt) on Wednesday to settled at Rs169,000/mt.
The daily Davis Index for ADC 12 settled at Rs171,861/mt ex-works India producer, down by Rs625/mt while the index for CG 99.5 was down by Rs417/mt to settle at Rs168,488/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs174,410/mt, down by Rs416/mt from Rs174,826/mt ex-works India producer.