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India’s leading aluminium producers, Hindalco and Balco, have reduced the prices of aluminium ingot (P1020, 99.7%) by up to INR 2,000 per ton (approximately $23 per ton) compared to January 25, 2025. As a result, Balco’s prices have been reduced to INR 269,750 per ton (approximately $3,117 per ton), down by INR 2,000 per ton, while Hindalco’s prices have been reduced to INR 268,250 per ton (approximately $3,100 per ton), down by INR 1,750 per ton. These prices are ex-works, meaning they do not include Goods and Services Tax (GST).
At the time of reporting, aluminium futures on the London Metal Exchange (LME) were at $2,593 per ton. The price reduction by Hindalco and Balco suggests that the aluminium market is experiencing a downward trend, which may be attributed to various factors such as changes in global demand, supply chain disruptions, or market fluctuations.
It is worth noting that the price reduction is a significant one, with Balco’s prices being reduced by nearly 0.7% and Hindalco’s prices being reduced by about 0.6%. This could have implications for the entire aluminium industry, including downstream producers, consumers, and traders. The reduction in prices may also lead to increased demand for aluminium, as industries and consumers seek to take advantage of the lower prices.
Overall, the reduction in aluminium prices by Hindalco and Balco is a significant development in the Indian aluminium market, and it will be interesting to see how the industry responds to these changes in the coming weeks and months.