Hindalco further cuts its aluminium billets and wire rod prices by INR2750/t with effect from January 25

Hindalco Industries Limited further reduced its aluminium products and aluminium ingot prices, with effect from Tuesday, January 25, in tandem with a downfall in LME aluminium price by US$35 per tonne on January 24. The company cut its aluminium billets price by INR 2,750 per tonne from INR 277,600 per tonne to INR 274,850 per tonne.

Hindalco’s aluminium wire rod price also witnessed a decrease of INR 2,750 per tonne on January 25 to come in at INR 271,850 per tonne. On January 22, the price was at INR 274,600 per tonne after being reduced by INR 1,750 per tonne.

Hindalco’s aluminium ingot price stood at INR 260,750 per tonne, with effect from January 25, also down by INR 2,750 per tonne from INR 263,500 per tonne.

Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on a month-on-month basis, stood up by US$196.50 per tonne from US$2,848 per tonne as of January 24.

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.