Balco increased primary aluminium ingot (P1020, 99.7%) prices by INR 4,750/t ($60/t) today as against 6 Aug’22 levels. The effective price is INR 231,250/t ($2,918/t). A major factor that could be attributed to the sharp hike was adequate improvement in LME exchange prices. Futures rose by nearly $70/t in recent time and, currently, spot prices are hovering at around $2,490/t.
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