The daily Davis Index for P1020 on Thursday rose by Rs1,834/mt ($24.81/mt) to Rs171,155/mt ex-works India producer after Hindalco revised its prices in line with rise in spot aluminium prices on LME.
The official LME spot contract settled at $2,045.5/mt on Dec 1, up by $78.5/mt from $1,967/mt on Nov 25.
Hindalco increased P1020 prices by Rs5,500/mt ($74.41/mt) to RS173,500/mt late Wednesday, while Nalco revised its prices by Rs5,600/mt and Balco revised its product prices by Rs5,250/mt earlier on Dec 2.
The daily Davis Index for ADC 12 settled unchanged at Rs173,861/mt ex-works India producer. The CG 99.5 was up by Rs1,833/mt to Rs170,738/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs176,660/mt ex-works India producer, up by Rs1,833/mt.
($1=Rs73.91)