India: Hindalco, Nalco cut aluminium ingots prices by up to INR 4,250/t

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Hindalco has reduced primary aluminium ingots (P1020/IE10, 99.7%) prices by INR 4,250/t ($54/t) today. The effective price stands at INR 224,500/t ($2,851/t).
Nalco has cut prices of the same by INR 1,000/t ($13/t). The effective price stands at INR 226,900/t ($2,882/t).
The closing price of the three-month aluminium futures on LME stood at $2,414/t on 2 Aug’22, down by around $70/t in past 5-6 days.

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