Hindalco’s aluminium wire rod and billets prices cut by INR3000/t with effect from December 7
Hindalco Industries Limited has reduced its aluminium products and aluminium ingot prices for the second time in a row, with effect from Tuesday, December 7. Hindalco’s aluminium wire rod price has seen a cut of INR 3,000 per tonne from INR 243,600 per tonne on December 4 to INR 240,600 per tonne on December 7.
Hindalco’s aluminium billets price has come in at INR 243,600 per tonne, also down by INR 3,000 per tonne from INR 246,600 per tonne from the previous day.
The company’s aluminium ingot selling price is hovering around INR 229,500 per tonne after being reduced by INR 3,000 per tonne from INR 232,500 per tonne.
Hindalco inks its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on December 6 decreased by US$47.50 per tonne to US$2,600.50 per tonne. On a month-on-month calculation, the price stood up by US$110 per tonne from US$2,490.50 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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