Hindalco Industries reports INR 2,250/t decline in its aluminium product price
Hindalco Industries Limited has cut its aluminium products price after raising it on December 25. With effect from Wednesday, 30 December 2020, the company’s wire rods price stands at INR 179,850 per tonne, representing a drop of INR 2,250 per tonne, from INR 182,100 tonne on December 25.
Aluminium billets price has reduced to stand at INR 175,850 per tonne on December 30 2020. That was down INR 2,250 per tonne from INR 178,100 per tonne on December 25.
Hindalco aluminium ingots price stands at INR 168,750 per tonne as of Wednesday, 30 December 2020. This marks a decline of INR 2,250 per tonne from last week.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The aluminium prices on LME have been rising since October.
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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