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26 JUNE 2020 AL CIRCLE

Hindalco’s aluminium ingot price stands at INR135,750/t after second consecutive day of cut on June 26

EDITED BY : DEBANJALI SENGUPTA 2MINS READ

Hindalco Industries Limited has again cut its aluminium prices today, on June 26, just after reducing them yesterday by INR 2000 per tonne. This marks the second back-to-back day in a week that Hindalco has trimmed its aluminium prices. Today, the company has cut the prices by INR 1750 per tonne, bringing the aluminium ingot price to INR 135,750 per tonne, with effect from Friday, June 26.

Hindalco’s aluminium ingot price stands at INR135,750/t after second consecutive day of cut on June 26

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With the second straight cut, Hindalco’s aluminium wire rod price has come in at INR 146350 per tonne, down by INR 1,750 per tonne or 1.18 per cent from INR 148100 per tonne on June 25. The prices of Hindalco’s billets, on the other hand, are now standing at INR 142,350 per tonne after being cut by INR 1,750 per tonne from INR 144,100 per tonne.

The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium declined more than 11% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected to remain under pressure due to the Coronavirus pandemic.

Energy Consumption in Aluminium Smelting

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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EDITED BY : DEBANJALI SENGUPTA 2MINS READ

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