India: Hindalco, Balco cut aluminium ingot prices by up to INR 2,250/t ($26/t)

Hindalco and Balco, India's leading producers, reduced aluminium ingot (P1020, 99.7%) prices by up to INR 2,250/t ($26/t) today, compared to 18 Dec'24. Post-revision, Balco's prices stood at INR 250,000/t ($2,939/t), down INR 2,250/t ($26/t), and Hindalco's at INR 248,250/t ($2,918/t), down INR 2,200/t ($25/t). All prices are ex-works, excluding GST. At the time of reporting, aluminium futures on the LME were at $2,531/t.