The daily Davis Index for P1020 on Friday rose by Rs583/mt ($8.01/mt) to settle at Rs172,371/mt ex-works India producer after Balco revised its product prices on Thursday from Feb 10 on the back of volatility of spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,070.5/mt on Wednesday from $2,045.5/mt on Feb 9, up by $25/mt.
Balco rose its product prices by Rs1,750/mt ($24.04/mt) on Feb 11. The other two primary producers, Hindalco and Nalco, had raised their product prices by Rs1,750/mt and Rs4,600/mt ($63.20/mt).
The daily Davis Index for ADC 12 settled at Rs175,061/mt ex-works India producer, up by Rs875/mt, while for CG 99.5, the index rose by Rs584/mt to settle at Rs171,955/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs177,876/mt from Rs177,293/mt ex-works India producer, a surge of Rs583/mt.