Hindalco Industries’ aluminium billets price dipped by 1.3% to INR 174,600/t
Hindalco Industries Limited has cut its aluminium products price by INR 2250 per tonne. With effect from Friday, 29 January 2021, wire rods price stands at INR 178,600 per tonne, a decrease of 1.24% from INR 180,850 per tonne on January 26.
The company is selling its aluminium billets and aluminium ingot at INR 174,600 per tonne and INR 167,500 per tonne as of Friday, 29 January 2021. That was down by 1.3% or INR 2250 per tonne each from January 26.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price on LME has been increasing since October. The price has climbed nearly 14% in the October-December.
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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