The daily Davis Index for P1020 on Monday rose by Rs750/mt ($10.21/mt) to settle at Rs170,055/mt, up from Rs169,305/mt ex-works India producer after Balco raised its product prices on Friday in sync with the rise in spot aluminium prices on LME.
The official LME spot contract settled at $2,029.5/mt on Jan 8, up by $21.5/mt from $2,008/mt on Jan 7.
Balco raised product prices by Rs2,250/mt on Jan 9 after dropping it by Rs4,500mt on Jan 8. Its P1020 is now priced at Rs175,000/mt ex-works India producer.
The daily Davis Index for ADC 12 settled at Rs173,711/mt ex-works India producer, up by Rs1,140/mt, while the index for CG 99.5 rose by Rs750/mt to settle at Rs169,638/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs175,560/mt ex-works India producer, up by Rs 750/mt.