Hindalco Industries deducts INR3000/t from its aluminium billets price on September 20
Hindalco Industries Limited has reduced its aluminium products and aluminium ingot prices, with effect from Tuesday, September 20. That followed a raise of INR 3,750 per tonne on the previous day, September 16. On September 20, Hindalco deducted its aluminium billets price by INR 3,000 per tonne to sell the product at INR 218,350 per tonne.
The company’s aluminium wire rod price also saw a cut of INR 3,000 per tonne on September 20 to stand at INR 215,350 per tonne versus INR 218,350 per tonne on September 16. Hindalco’s aluminium ingot price came in at INR 204,250 per tonne on September 20, against INR 207250 per tonne last week, September 16.
Hindalco Industries cut its aluminium products and aluminium ingot prices on September 20 in response to the downfall of the three-month futures of aluminium on the London Metal Exchange by US$27 per tonne to US$2,232 per tonne on September 19.
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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