Hindalco decreases its aluminium products price by INR 1,500/t

Hindalco Industries Limited has continued to reduces its aluminium products price for the second time in a row. With effect from Thursday, 24 September 2020, , the company’s wire rods price stands at INR 156,600 per tonne, marking a drop of INR 1,500 per tonne from INR 158,100 per tonne on September 19.

The company is now selling its billets at INR 152,600 per tonne as of Thursday, 24 September 2020, down INR 1,500 per tonne from INR 154,100 per tonne on Saturday, 19 September.

Hindalco aluminium ingots price stands at INR 145,500 per tonne, a drop of INR 1,500 per tonne from INR 147,000 per tonne.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium are down so far in 2020 due to slower global demand following the coronavirus outbreak but have come off their recent lows.

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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