Hindalco Industries reduces its aluminium products price by INR 1,750/t with effect from March 13
Hindalco Industries Limited has cut its aluminium products price for the second time in a row. With effect from Saturday, 13 March 2021, aluminium billets price stands at INR 188,100 per tonne. This is down by INR 1,750 per tonne from INR 189,850 per tonne on March 9.
Aluminium ingot and wire rods prices stand at INR 181,000 per tonne and INR 192,100 per tonne as of Saturday, 13 March 2021, representing a decrease of around 1% each from INR 182,750 per tonne and INR 193,850per tonne on March 9.
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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