Hindalco’s aluminium ingot price experiences a cut of INR5500/t with effect from June 11
Hindalco Industries Limited narrowed down its aluminium ingot and aluminium products prices, with effect from Saturday, June 11, following a hike on June 9. Hindalco’s aluminium ingot price came in at INR 242,750 per tonne, seeing a cut of INR 5,500 per or 2.22 per cent from INR 248,250 per tonne.
Hindalco’s aluminium wire rod price also experienced a slash of INR 5,500 per tonne from INR 259,350 per tonne on June 9 to INR 253,850 per tonne on June 11. Hindalco’s aluminium billets price was no exception but also underwent a cut by the same amount to stand at INR 256,850 per tonne.
Hindalco reduced its aluminium ingot and aluminium products prices on Saturday in response to the back-to-back downfall in the LME aluminium benchmark price on June 9 and 10 by US$70.50 per tonne to hit six-month low at US$2,695 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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