Hindalco trims its aluminium ingot price for the second day in a row by INR3500/t w.e.f. June 30
Hindalco Industries Limited reduced its aluminium ingot and aluminium products prices, with effect from Thursday, June 30. The company trimmed its aluminium ingot price by INR 3,500 per tonne to INR 225,250 per tonne. On the previous day, June 29, Hindalco’s aluminium ingot price stood at INR 228,750 per tonne, seeing a slash of INR 5,250 per tonne.
With effect from June 30, Hindalco’s aluminium wire rod price came in at INR 236,350 per tonne, down by INR 3,500 per tonne from INR 239,850 per tonne. Aluminium billets price also saw a cut of INR 3,500 per tonne on the said day from INR 242,850 per tonne to INR 239,350 per tonne.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which as per the data, slipped by US$55 per tonne on June 30 to stand at US$2,397 per tonne.
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.
Vedanta deducts INR4750/t from its aluminium ingot price with effect from July 1
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