The daily Davis Index for P1020 Thursday dropped by Rs500/mt ($6.68/mt) to settle at Rs147,871/mt from Rs147,371/mt ex-works India producer on Wednesday. Hindalco released its product price notice late Wednesday evening, increasing product prices by Rs1,500/mt($20.42/mt) in line with the spot aluminium prices on LME.
Balco and Nalco have not changed their prices in line with LME. Hindalco’s P1020 price settled to Rs151,000/mt on Wednesday from Rs149,500/mt on Tuesday. The spot aluminium prices on LME rose by $19.5/mt on Thursday to $1,749.5/mt from ex-works India producer.
The Index for ADC 12 Thursday remained unchanged at Rs150,186/mt ex-works India producer. The index for CG99.5 Thursday settled at Rs147,455/mt ex-works India producers, up by Rs500/mt from Wednesday.
The index for EC rod Thursday settled at Rs153,376/mt, up by Rs500/mt from Rs152,876/mt Wednesday, ex-works India producers.
($1= Rs74.84)