India: Hindalco, Balco hike aluminium ingots prices by up to INR 3,500/t

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Hindalco and Balco have increased primary aluminium ingots (P1020, 99.7%) prices by up to INR 3,500/t ($43/t) today as against prices on 11 Jan’23.
Post-revision, Balco’s prices stand at INR 234,000/t ($2,863/t) while Hindalco’s prices are at INR 230,500/t ($2,820/t) exw, excluding GST.
A rise in aluminium futures by 2% to $2,510/t yesterday could be the reason behind the price hike, SteelMint notes.

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