Hindalco’s aluminium billets price slips by INR5500/t on April 21 after an intermittent rise

Hindalco Industries Limited again cut its aluminium products and aluminium ingot prices, with effect from Thursday, April 21, following an intermittent hike on the previous day. On April 21, the company reduced its aluminium billets price by INR 5,500 per tonne or 1.82 per cent to sell the product at INR 297,350 per tonne. On April 20, the price had seen a raise of INR 8,750 per tonne to stand at INR 302,850 per tonne.

Hindalco’s aluminium wire rod price was also slashed by INR 5,500 per tonne on April 21 from INR 299,850 per tonne on April 20 to INR 294,350 per tonne. Aluminium ingot price came in at INR 283,250 per tonne versus INR 288,750 per tonne on the earlier day.

Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange. The company has reduced its aluminium prices in line with the LME aluminium price fall by US$72 per tonne US$3,240 per tonne on April 20.

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.