Hindalco cuts its aluminium product prices by INR1250/t w.e.f. October 2 in line with dwindling LME prices

Hindalco Industries Limited has reduced the price of its aluminium ingots and aluminium products with effect from Friday, October 2, following a hike on Tuesday, September 29. Hindalco’s aluminium ingot price has come in at INR 145,750 per tonne, down by INR 1,250 per tonne from INR 147,000 per tonne on September 29.

The company’s aluminium billets price is at INR 152,850 per tonne, as of October 2, lower by INR 1,250 per tonne or 1 per cent than INR 154,100 on September 29. The price of Hindalco’s aluminium wire rod is also down by INR 1,250 per tonne to INR 156,850 per tonne, as of October 2.

Indian aluminium producers generally link their product prices to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium during September 29- October 2 have declined by 2.35 per cent from US$ 1746 per tonne to US$ 1705 per tonne. Over the year, the three-month futures of aluminium on the LME are down by by 3.78 per cent so far.

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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