India: NALCO cuts aluminium ingot prices by INR 17,300/t ($192/t)

• Primary aluminium prices continue downward trend
  
  
• Delhi NCR P1020 ingot prices fall by 4.5% w-o-w
  
  

NALCO reduced its primary aluminium ingot (P1020, 99.7%) prices on 18 June, lowering the benchmark to INR 376,500/t ($4,178/t) from INR 393,800/t ($4,370/t) on 13 June, reflecting a decline of INR 17,300/t ($192/t) amid continued weakness in global aluminium market trends. The prices are quoted on an ex-works basis and exclude GST.

According to BigMint's assessments, P1020 ingot prices in Delhi NCR declined by INR 17,000/t (4.5%) w-o-w to INR 365,000/t on 18 June, from INR 382,000/t on 11 June.

Meanwhile, benchmark three-month aluminium futures on the London Metal Exchange (LME) declined to $3,407/t on 18 June, down 2.5% w-o-w from $3,496t recorded on 11 June.