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18 JANUARY 2021 AL CIRCLE

Hindalco Industries reports INR 1,500/t decline in its aluminium products price

EDITED BY : HEENA IQBAL 1MINS READ

Hindalco Industries Limited has reduced its aluminium products price for the second time in a row. With effect from Saturday, 16 January 2021, wire rods price stands at INR 180,350 per tonne, marking a drop of INR 1,500 per tonne from INR 181,850 per tonne on January 12.

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The company is selling its aluminium billets at INR 176,350 per tonne on January 16, down from INR 177,850 per tonne on January 12. Aluminium ingots price has dropped to stand at INR 169,250 per tonne, down INR1,500 per tonne.

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. 

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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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