Hindalco drops its aluminium products price by INR 2,500/t with effect from December 24
Hindalco Industries Limited has reduced its aluminium products price after raising it for the third time in a row. With effect from Thursday, 24 December 2020, , the company’s wire rods price stands at INR 180,850 per tonne, down by INR 2,500 per tonne, from INR 183,350 tonne on December 11.
Aluminium billets price has declined to stand at INR 176,850 per tonne on December 24 2020, marking a drop of INR 2,500 per tonne from INR 179,350 per tonne on December 11.
Hindalco aluminium ingots price has slipped by INR 2,500 per tonne to INR 169,750 per tonne as of Thursday, 24 December 2020.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium prices on LME have been rising since October.
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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