The daily Davis Index for P1020 on Wednesday rose by Rs2,700/mt ($36.83/mt) to settle at Rs208,005/mt ex-works India producer after Nalco corrected its June 11 product price notice on Tuesday evening.
Responding to the rise in the LME aluminium spot contact, Nalco increased their product prices by Rs4,700/mt($64.11/mt) on June 11 from June 8.
On Tuesday, Nalco had dropped its product prices by Rs3,400/mt($46.38/mt) in a price change notice dated June 11 uploaded on the company website on Tuesday morning despite $52.5/mt advancement in the LME aluminium spot contract since June 7. After the publication of the index by Davis Index, however, the company published another price notice dated June 11, 2021.
The daily Davis Index for ADC 12 settled at Rs210,386/mt from Rs206,336/mt ex-works India producer, up by Rs4,050/mt, while for CG 99.5, the index rose by Rs2,700/mt to settle at Rs207,588/mt from R4,888/mt ex-works India producer.
The daily Davis Index for EC Rod settled at Rs213,510/mt from Rs210,810/mt ex-works India producer, up by Rs2,700/mt.
($1=Rs73.30)