India: Balco, Hindalco cut aluminium ingots prices by up to INR 4,000/t

Balco and Hindalco have cut aluminium ingots (P1020 grade 99.7%) prices by up to INR 4,000/t ($49/t) d-o-d on 19 Oct. Balco’s effective prices stand at INR 213,250/t ($2,590/t) while Hindalco’s prices are at INR 208,250/t ($2,529/t). The decline in spot and futures prices on LME by around $40/t led to the price cut by primary players, SteelMint noted.