The daily Davis Index for P1020 on Thursday rose by Rs1,500/mt ($20.63/mt) to settle at Rs184,238/mt ex-works India producer after Hindalco and Balco revised their product prices on the back of the volatility in the spot aluminium prices on LME.
The official LME aluminium spot contract settled at $2,220.5/mt on March 24 from $2,205/mt on the prior day, up by $15.5/mt.
Balco and Hindalco increased their product prices by Rs2,250 ($30.96/mt) each on Thursday.
The daily Davis Index for ADC 12 settled at Rs186,361/mt ex-works India producer, up by Rs1,125/mt, while for CG 99.5, the index rose by Rs1,500/mt to settle at Rs183,821/mt from Rs182,321/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs189,743/mt from Rs188,243/mt ex-works India producer, up by Rs1,500/mt.