The daily Davis Index for P1020 on Friday dropped by Rs4,667/mt ($62.21/mt) to settle at Rs213,121/mt ex-works India producer after Hindalco and Balco dropped their product prices on July 9 from July 3 amid a decline in LME aluminium spot contract.
Balco and Hindalco dropped their product prices by Rs7,000/mt ($93.90/mt).
The LME aluminium spot contract dropped by $84.5/mt to settle at $2,435/mt on July 8 from $2,519.5/mt on July 2.
The daily Davis Index for ADC 12 declined by Rs3,500/mt and settled at Rs217,186/mt ex-works India producer, while the index for CG 99.5, dropped by Rs4,666/mt to settle at Rs212,705/mt ex-works India producer.
The daily Davis Index for EC Rod declined by Rs4,667/mt and settled at Rs218,626/mt ex-works India producer.