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THINK ALUMINIUM THINK AL CIRCLE
Hindalco Industries Limited has reduced its aluminium products price today. With effect from Wednesday, 24 February 2021, wire rods price stands at INR 189,350 per tonne, a drop of INR 1,750 per tonne from INR 191,100 per tonne on February 19.
The company is selling its aluminium billets and aluminium ingot price at INR 185,350 per tonne and INR 178,250 per tonne as of Wednesday, 24 February 2021. That was down 1 per cent each from INR 187,100 per tonne and INR 180,000 per tonne on February 19.
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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