
Hindalco Industries Limited has further lowered its aluminium products and aluminium ingot prices on Tuesday, September 28, in line with back-to-back LME aluminium price fall. With effect from September 28, Hindalco has reduced its aluminium wire rod price by INR 1,500 per tonne to INR 256,600 per tonne. On Saturday, September 25, the company’s aluminium wire rod price stood at INR 258,100 per tonne, down by INR 2,500 per tonne from the previous day.

In the latest round of price cut, Hindalco’s aluminium billets price also witnessed a slash of INR 1,500 per tonne to INR 252,600 per tonne. On September 25, the price stood at INR 254,100 per tonne compared to INR 256,600 per tonne on September 24.
Hindalco has also cut it aluminium ingot price by INR 1,500 per tonne on September 28 from INR 247,000 per tonne to INR 245,500 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, which decreased on September 24 by US$31.50 per tonne to US$2,905.50 per tonne. On Monday, September 27, the price declined further to US$2,888 per tonne. Nonetheless, on a month-on-month calculation, the price stood up by US$214.50 per tonne from US$2,673.50 per tonne, and on a year-on-year basis, it was higher by about US$1,151 per tonne than US$ 1,737 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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