India: Hindalco cuts aluminium ingot prices by INR 5,500/t ($69/t)

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Hindalco has decreased primary aluminium ingot (P1020, 99.7%) prices by INR 5,500/t ($69/t) today compared to 13 Aug’22.
The effective price is INR 224,000/t ($2,813/t). The closing price for the spot aluminium futures on LME stood at $2,414/t on 17 Aug, decreasing by $28/t d-o-d yesterday. Constant swings in exchange futures is the key factor behind the price adjustment.

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