After revising aluminium prices for three consecutive days from November 17 to 19, Hindalco paused for two days and then cut both its aluminium products and aluminium ingot prices, with effect from November 22. Hindalco curtailed its aluminium wire rod price by INR 2,000 per tonne to sell the product at INR 231,850 per tonne. Previously, on November 19, the wire rod price saw a rise of INR 2,500 per tonne from INR 231,350 per tonne to INR 233,850 per tonne.
Hindalco’s aluminium billets price was also reduced by INR 2,000 per tonne on November 22 from INR 236,850 per tonne on November 19 to INR 234,850 per tonne. Aluminium ingot price was no exception but saw a cut of the same amount on November 22 to stand at INR 220,750 per tonne versus INR 222,750 per tonne on November 19.
Hindalco Industries Limited trimmed its aluminium ingot and aluminium products prices on November 22, in line with the decline of the three-month futures of aluminium on the London Metal Exchange on November 21. The price dropped by US$25 per tonne from US$2,369 per tonne to US$2,344 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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