Hindalco Industries’ aluminium ingot price drops by INR1750/t with effect from August 25
Hindalco Industries Limited has trimmed its aluminium ingot and aluminium products prices, with effect from Thursday, August 25, following a hike a day ago. The company has cut its aluminium ingot price by INR 1,750 per tonne to INR 225,250 per tonne. On August 24, the price was increased by INR 6,000 per tonne to INR 227,000 per tonne.
Hindalco’s aluminium wire rod price has also been reduced by INR 1,750 per tonne to INR 236,350 per tonne after a hike on the previous day from INR 232,100 per tonne to INR 238,100 per tonne. Aluminium billets price has come in at INR 239,350 per tonne as of August 25, down by INR 1,750 per tonne from INR 241,100 on August 24.
Hindalco Industries links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which dropped by US$16.50 per tonne to US$2,422 per tonne on August 24, following two consecutive days of hike from US$2,376 per tonne to US$2,438.50 per tonne.
_0_0.gif)
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.
Strike at Hydro Sunndal finally called off, operations to resume soon
Next articleResearchers propel the transformation of Odisha’s Angul district into green economy
Grow with
AL Circle
