Balco and Hindalco have cut aluminium ingots (P1020 grade 99.7%) prices by up to INR 6,250/t ($76/t) d-o-d on 17 Oct. Balco’s effective prices stand at INR 217,250/t ($2,642/t) while Hindalco’s prices are at INR 212,250/t ($2,581/t). The decline in spot and futures prices on LME by over $75/t led to the price cut by primary players, SteelMint noted.
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