Hindalco’s aluminium ingot price shrinks by INR2000/t with effect from November 8
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices by INR 2,000 per tonne, with effect from Tuesday, November 8. This follows a hike of INR 6,250 per tonne in the previous week, November 5. As per the latest price chart revealed by Hindalco, its aluminium ingot price stands at INR 216,000 per tonne compared to INR 218,000 tonnes on November 5.
Hindalco’s aluminium wire rod price has come in at INR 227,100 per tonne as of November 8 versus INR 229,100 per tonne on November 5. Aluminium billets price has summed up at INR 230,100 per tonne, down by INR 2,000 per tonne from INR 232,100 per tonne.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange. The LME aluminium benchmark price slipped US$14 per tonne or 0.61 per cent on Monday, November 7, to settle at US$2,292 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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