India: Balco, Hindalco cut aluminium ingot prices by INR 2,500/t ($31/t)

Bharat Aluminium Company (Balco) and Hindustan Aluminium Corporation Limited (Hindalco) have reduced primary aluminium ingot (P1020 grade 99.7%) prices by INR 2,500/t ($31/t) on a fall in exchange prices. After the revision, Balco’s effective price stands at INR 222,000/t ($2,781/t), while Hindalco’s price is at INR 221,500/t ($2,774/t). However, LME’s registered warehouse stock continues to remain tight amid a slow capacity utilisation ratio, SteelMint learned from trade sources.