The daily Davis Index for P1020 Monday dropped by Rs733/mt ($9.97/mt) to settle at Rs146,155/mt from Rs146,888/mt Friday ex-works India producer after Nalco reduced product prices by Rs2,200/mt on Sept 11 from August 14.
Balco dropped their product prices by Rs1,250/mt on September 11 from August 22, responding to the weak demand for primary aluminium and volatility of spot aluminium prices on LME.
The other primary producer, Hindalco, has so far not responded to changes on LME since August 22.
The spot aluminium price on LME remained volatile since August 13 and rose to $1,743.5/mt on September 10 from $1,738/mt on August 13, up by $5.5/mt before rising to $1,781.5 on September 1.
The Indexes for ADC 12 Monday settled at Rs148,736/mt ex-works India producer, down by Rs1,100/mt and for CG99.5 settled at Rs145,738/mt ex-works India producer, down by Rs733/mt .
The index for EC rod Monday settled at Rs151,660/mt down by Rs733/mt from Rs152,393/mt ex-works India producers on Friday.