Hindalco further trims its aluminium products prices by INR1250/t with effect from April 14
Hindalco Industries Limited has again cut its aluminium products and aluminium ingot prices, with effect from Thursday, April 14, albeit much lesser than the previous day. As against the slash of INR 12,500 per tonne on Tuesday April 12, Hindalco’s aluminium wire rod price has seen a trim of INR 1,250 per tonne on April 14 to INR 291,100 per tonne.
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Hindalco’s aluminium billets price has also been reduced by INR 1,250 per tonne or 0.42 per cent to INR 294,100 per tonne. On April 12, the price stood at INR 295,350 per tonne after being chopped by INR 12,500 per tonne from the previous day.
As per the revised prices revealed, the company is now selling its aluminium ingot price at INR 280,000 per tonne versus INR 281,250 per tonne on April 12.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange. The company reduced its aluminium prices in line with the further drop in LME aluminium price by US$7.50 per tonne to US$3,207 per tonne on April 13.
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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