The daily Davis Index for P1020 dropped by Rs250/mt ($3.4/mt) to settle at Rs196,988/mt ex-works India producer after Balco and Nalco revised their product prices on Friday and Thursday, respectively.
Responding to the rise in the LME aluminium spot contact, Balco increased its product prices by Rs1,250/mt ($17.24/mt) on Friday.
Meanwhile, responding to weakness in aluminium spot prices, since its last price revision on May 22, Nalco reduced its product prices by Rs4,000/mt ($55.16/mt) on Thursday from May 22.
The official LME aluminium spot contract settled at $2,388/mt on Thursday from $2,359.5/mt on May 26, up by $28.5/mt.
The daily Davis Index for ADC 12 settled at Rs200,361/mt ex-works India producer, down by Rs375/mt, while for CG 99.5, the index dropped by Rs250/mt to settle at Rs196,571/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs202,493/mt from Rs202,743/mt ex-works India producer, down by Rs250/mt.