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21 OCTOBER 2020 AL CIRCLE

Hindalco drops its aluminium products price by INR 2,000/t with effect from October 21

EDITED BY : HEENA IQBAL 1MINS READ

Hindalco Industries Limited has reduced its aluminium products price for the second time in a row. With effect from Wednesday, 21 October 2020, the company’s wire rods price stands at INR 165,350 per tonne, down by INR 2,000 per tonne, from INR 167,350 per tonne on October 20.

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Aluminium billets price has dropped to stand at INR 161,350 per tonne Wednesday, 21 October 2020. That was a drop of INR 2,000 per tonne from INR 163,250 per tonne on October 20.

Hindalco aluminium ingots price has declined by INR 2,000 per tonne to INR 154,250 per tonne.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The contract on LME has increased by nearly 3% so far in 2020.

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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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EDITED BY : HEENA IQBAL 1MINS READ

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