
Hindalco Industries Limited reduced its aluminium ingot and aluminium product prices for the fourth time in a row with effect from Wednesday, June 22. The company cut its aluminium ingot price by INR 1,500 per tonne to INR 202,250 per tonne on June 22. On June 19, the price stood at INR 203,750 per tonne, reflecting a downfall of INR 3,250 per tonne or 1.57 per cent from INR 207,000 per tonne.

With the latest cut, Hindalco’s aluminium wire rod price has come in at INR 213,350 per tonne, also down by INR 1,500 per tonne from INR 214,850 per tonne on June 19. Hindalco is currently selling its aluminium billets price at INR 209,350 per tonne compared to INR 210,850 per tonne on the previous day.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on June 21 decreased from US$ 2,374 per tonne to US$ 2,353.50 per tonne. However, on June 22, the price rebounded to US$ 2,375.50 per tonne. On a month-on-month calculation, the price is down by about US$ 27.50 per tonne but up by about US$ 802.50 per tonne on the year.
Aluminium operations of Hindalco, 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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