Hindalco Industries’ aluminium products price plunges by INR 7,750/t on May 25
Hindalco Industries Limited has continued to decline its aluminium products price. With effect from Tuesday, 25 May 2021, aluminium billets price has dropped by INR 7,750 per tonne or 3.69% to stand at INR 202,100 per tonne, from INR 209,850 per tonne on May 20.
The wire rods price stands at INR 206,100 per tonne on Tuesday, 25 May 2021, down INR 7,750 per tonne from INR 213,850 per tonne on May 20. Aluminium ingot price is also down by more than 3% to stand at INR 195,000 per tonne.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium price stands at US$ 2305 per tonne on May 24, down US$98/t from US$ 2403 per tonne on May 21.
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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