India: Balco and Hindalco cut aluminium ingot prices by INR 5,250/t ($64/t)

Balco and Hindalco have cut aluminium ingot (P1020 grade 99.7%) prices by INR 5,250/t ($64/t) on 11 Oct’22 from levels prevailing on 7 Oct. Balco’s effective prices stand at INR 220,250/t ($2,673/t) and Hindalco prices are at INR 215,500/t ($2,616/t). The decrease in spot and futures prices by up to $68/t over the last couple of days resulted in the reduction in prices, SteelMint notes.