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19 JANUARY 2021 AL CIRCLE

Hindalco Industries cuts aluminium products price by INR 1,250/t

EDITED BY : HEENA IQBAL 1MINS READ

Hindalco Industries Limited has cut its aluminium products price for the third time in a row. With effect from Tuesday, 19 January 2021, wire rods price stands at INR 179,100 per tonne, down by INR 1,250 per tonne from INR 180,350 per tonne on January 16.

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The company is selling its aluminium billets at INR 175,100 per tonne on January 19, representing a decline of INR 1,250 per tonne from INR 176,350 per tonne on January 16. Aluminium ingots price stands at INR 168,000 per tonne.

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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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EDITED BY : HEENA IQBAL 1MINS READ

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