India: Hindalco, Balco cut aluminium ingot prices by up to INR 2,500/t ($29/t)

Hindalco and Balco, India's leading aluminium producers, reduced aluminium ingot (P1020, 99.7%) prices by up to INR 2,500/t ($29/t) today compared to 14 Dec'24. Post-revision, Balco's prices stood at INR 256,250/t ($3,017/t), down INR 2,500/t ($29/t), and Hindalco's at INR 254,250/t ($2,993/t), down INR 2,250/t ($26/t). All prices are ex-works, excluding GST. At the time of reporting, aluminium futures on the LME were at $2,540/t.