Hindalco’s aluminium billets & wire rod prices continue to shrink by 2% with effect from April 5

After about a week, Hindalco Industries Limited has further trimmed its aluminium products and aluminium ingot prices, with effect from April 5, 2022. Hindalco has reduced its aluminium billets price by INR 6,250 per tonne or 1.97 per cent to INR 310,850 per tonne. The previous price cut was on March 31, which had brought the company’s aluminium billets price to 310,850 per tonne, down by INR 7,000 per tonne from INR 317,100 per tonne.

With the latest cut, Hindalco’s aluminium wire rod price has come in at INR 307,850 per tonne versus INR 314,100 per tonne on March 31. That also reflected a decrease of INR 6,250 per tonne.

With effect from April 5, Hindalco is selling its aluminium ingot price at INR 296,750 per tonne as against the selling price of INR 303,000 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 continued to decline after March 30 from US$3,508 per tonne to US$3,444 per tonne as of April 4, 2022.

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.