Hindalco reduces its aluminium products price by INR 1,500/t with effect from October 16
Hindalco Industries Limited has reduced its aluminium products price after raising it for the sixth time in a row. With effect from Friday, 16 October 2020, the company’s wire rods price stands at INR 165,100 per tonne, down by INR 1,500 per tonne, from INR 166,600 per tonne on October 14.
Aluminium billets price has come in at INR 161,100 per tonne Friday, 16 October 2020, registering a drop of INR 1,500 per tonne from INR 162,600 per tonne on October 14.
Hindalco aluminium ingots price has declined by INR 1,500 per tonne to INR 154,000 per tonne today.
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 increased by more than 1% so far in 2020.
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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