The daily Davis Index for P1020 on Friday dropped by Rs500/mt ($6.82/mt) to settle at Rs152,755mt ex-works India producer after primary producer Hindalco reduced product prices by Rs1,500 ($20.46/mt) on October 16.
On Oct 14, Balco and Hindalco had increased their aluminium product prices by Rs1,500/mt and Rs1,250/mt, respectively, while Nalco had upped prices on Oct 13 by Rs3,100/mt.
The spot aluminium prices on LME dropped by $17/mt $1,824/mt on Oct 15 from $1,841/mt on Oct 13.
The daily Davis Indexes for ADC 12 on Friday settled unchanged at Rs155,761/mt ex-works India producer and for CG99.5 settled at Rs152,338/mt ex-works India producer, down by Rs500/mt. The index for EC rod settled at Rs158,260/mt Friday down by Rs500/mt from Rs158,760/mt ex-works India producer on Thursday.