Hindalco back-to-back cuts its aluminium ingot & product prices by INR7500/t

Hindalco Industries Limited has continued to trim its aluminium ingot and aluminium product prices in line with the downtrend price on the London Metal Exchange. On Thursday, January 5, Hindalco slashed its aluminium ingot price by INR 7,500 per tonne or 3.36 per cent to INR 215,500 per tonne from INR 223,000 per tonne recorded a day before.

Hindalco Industries also reduced its aluminium wire rod price by INR 7,500 per tonne or 3.20 per cent from INR 234,100 per tonne the previous day to INR 226,600 per tonne on January 5. Aluminium billets price was no exception and experienced a cut by the same amount to INR 229,600 per tonne.

Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which sloped down by US$87.50 per tonne or 3.74 per cent to rest at US$2,250 per tonne.

Aluminium operations of the company, excluding those of its US arm Novelis Inc., generally account for nearly half of its total sales and 70% of its operating profit.

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