Hindalco Industries reports INR 2,750/t decline in its aluminium products price
Hindalco Industries Limited has cut its aluminium products price after hiking it for the second time in a row. With effect from Friday, 05 March 2021, aluminium billets price stands at INR 190,350 per tonne. This is down by INR 2,750 per tonne from INR 193,100 per tonne on March 4.
The company is selling its aluminium ingot and wire rods prices at INR 183,250 per tonne and INR 194,350 per tonne as of Friday, 05 March 2021, marking a decline of 1.42 per cent each from INR 186,000 per tonne and INR 197,100 per tonne on March 4.
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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