India: NALCO raises aluminium ingot prices by INR 1,500/t ($16/t); BALCO, Hindalco cut prices

• Benchmark LME aluminium futures decline by over 1% d-o-d
  
  
• BALCO reduces prices by INR 4,250/t, Hindalco by INR 3,000/t
  
  

NALCO increased its primary aluminium ingot (P1020, 99.7%) prices by INR 1,500/t ($16/t) on 1 June. Following the revision, prices rose to INR 412,500/t ($4,306/t), from INR 411,000/t ($4,290/t) on 27 May. The prices are quoted on an ex-works basis and exclude GST.

BALCO, meanwhile, reduced its aluminium ingot/P1020/EC high purity (above 99.7%) prices by INR 4,250/t to INR 429,500/t on 4 June from INR 433,750/t on 3 June. Hindalco also reduced its aluminium ingot/P1020/EC grade 99.7% (min) prices by INR 3,000/t to INR 434,000/t from INR 437,000/t over the same period.

As of 12:50 IST, benchmark three-month aluminium futures on the LME stood at $3,703.5/t, down 1.31% d-o-d.