The daily Davis Index for P1020 gained Rs2,000/mt ($26.89/mt) to settle at Rs221,655/mt ex-works India producer after Balco and Hindalco increased their product prices on Aug 11 from Aug 10. Earlier, both companies had decreased prices on Aug 10 from Aug 7 by Rs5,500/mt.
The two primary producers increased product prices by Rs3,000/mt ($40.33/mt) as LME spot prices advanced by $32/mt to settle at $2,579/mt on Aug 10 from $2,547/mt on Aug 9.
The daily Davis Index for ADC 12 rose by Rs1,500/mt to settle at Rs224,611/mt ex-works India producer. The index for CG 99.5 gained Rs2,000/mt to settle at Rs221,238/mt ex-works India producer.
The daily Davis Index for EC Rod also increased by Rs2,000/mt to settle at Rs226,826/mt ex-work India producer.