The daily Davis Index for P1020 dropped by Rs1,334/mt ($17.63/mt) to settle at Rs136,471 /mt ex-works India producer on Thursday from Tuesday.
Both Balco and Hindalco reduced their prices by Rs2,000/mt on June 25, driven by a drop in LME spot aluminium prices between June 17 to June 24. Both the aluminium producers had earlier raised their product prices by Rs2,000/mt and Rs1,750/mt, respectively, on June 18.
Balco decreased its P1020 price by Rs2,000/mt to Rs138,750/mt ex-works India producer on Thursday from Rs140,750/mt on June 18.Hindalco reduced its P1020 price by Rs2,000/mt to Rs137,500/mt ex-works producer Thursday from Rs139,500/mt on June 18. Spot aluminium prices dropped by $13.5/mt to $1,564/mt on June 24.
Earlier, state-owned aluminium producer Nalco increased its product prices by Rs1,000/mt, the changed prices were effective from June 20.
The Davis Index for ADC 12 settled at Rs139,836/mt ex-works India producer on Tuesday, down by Rs1,000/mt from Tuesday.
The index for CG99.5 settled at Rs136,055/mt ex-works India producer, down by Rs1,333/mt from Tuesday. The index for EC rod settled at Rs142,310/mt ex-works India producer, down by Rs1,333/mt from Tuesday.