
Hindalco Industries Limited has reduced its aluminium ingot and aluminium product prices by INR 1,250 per tonne with effect from Tuesday, October 20, following a sharp hike of INR 3,500 per tonne on Saturday, October 17. With the latest cut, Hindalco’s aluminium ingot price has come in at INR 156,250 per tonne from INR 157,500 per tonne on October 17.

Hindalco’s aluminium wire rod price is now standing at INR 167,350 per tonne, also lower by INR 1,250 per tonne than INR 167,350 per tonne on the previous day. The company’s aluminium billet price is being cut from INR 164,600 per tonne to INR 163,350 per tonne.
Hindalco generally links its aluminium product prices to the three-month futures of aluminium on the London Metal Exchange, which on October 19 declined from US$ 1865.50 per tonne to US$ 1848 per tonne. With the latest fall, the hike in LME aluminium price over the year has also slowed down from 5.28 per cent to 4.28 per cent at the present.
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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