India: Balco, Hindalco cut aluminium ingot prices by INR 5,750/t ($70/t)

Balco and Hindalco have cut aluminium ingot (P1020 grade 99.7%) prices by INR 5,750/t ($70/t) d-o-d on 15 Oct. Balco’s effective prices stand at INR 223,250/t ($2,712/t) while Hindalco’s prices are at INR 218,500/t ($2,654/t). The decline in spot and futures prices on LME by over $50/t led to the price cut by primary players, SteelMint notes.