The daily Davis Index for P1020 on Wednesday dropped by Rs500/mt ($6.82/mt) to settle at Rs168,738/mt ex-works India producer after Balco dropped its product prices on Dec 30 from Dec 22, in sync with the drop in spot aluminium prices on LME.
The official LME spot contract settled at $2,000/mt on Dec 29, down by $12.5/mt from $2,012.5/mt on Dec 21
Balco dropped its product prices by Rs1,500/mt ($20.48/mt) on Dec 30. It’s P1020 price settled at Rs169,250/mt on Dec 30 from Rs170,750/mt on Dec 22.
The daily Davis Index for ADC 12 settled at Rs171,236/mt ex-works India producer, down by Rs750/mt. The index for CG 99.5 dropped by Rs500/mt to settle at Rs168,321/mt ex-works India producer.
The daily Davis Index for EC Rod also dropped by Rs500/mt to settled at Rs174,243/mt ex-works India producer.
($1=Rs73.22)