Hindalco Industries Limited again reduced its aluminium products and aluminium ingot prices, with effect from March 18, following an intermittent rise on March 17. The company’s aluminium wire rod price was cut by INR 3,250 per tonne on March 18 from INR 299,600 per tonne to INR 296,350 per tonne.
Aluminium billets price was also trimmed by INR 3,250 per tonne from INR 302,600 per tonne on March 17 to INR 299,350 per tonne on March 18. Aluminium ingot price came in at INR 285,250 per tonne as of March 18 versus INR 288,500 per tonne on the previous day.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which decreased by US$18 per tonne on March 17 to US$3,288 per tonne. On a month-on-month calculation, the price stood lower by US$27 per tonne than US$3,315 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.
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