India: Hindalco, Balco cut aluminium ingot prices by up to INR 3,000/t ($36/t)

India's primary producers reduced aluminium ingot (P1020, 99.7%) prices by up to INR 3,000/t ($36/t) today compared to 25 Sep'24. Post-revision, Hindalco's prices were at INR 247,500/t ($2,956/t), down by INR 3,000/t ($36/t). Balco's prices were slashed by INR 2,750/t ($33/t) to INR 249,750/t ($2,984/t). All prices are ex-works and exclude GST. At the time of reporting, aluminium futures on the LME stood at $2,550/t.