Hindalco’s aluminium wire rod & billet prices experience a cut of INR4750/t on September 15
Hindalco Industries Limited has slashed its aluminium products and aluminium ingot prices, with effect from Thursday, September 15, following a raise on September 10. Hindalco’s aluminium wire rod price has been reduced by INR 4,750 per tonne or 2.17 per cent to sell the product at INR 214,600 per tonne on September 15 onwards.
Aluminium billets price has also experienced a cut of INR 4,750 per tonne on September 15 to INR 217,600 per tonne, following an increase of INR 2,000 per tonne on September 10 to INR 222,350 per tonne.
Hindalco’s aluminium ingot price is no exception but seen a cut of the same amount to stand at INR 203,500 per tonne versus INR 208,250 per tonne last week.
Hindalco links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which slid down by US$82 per tonne or 3.55 per cent on September 14 from US$ 2,309.50 per tonne to US$2,227.50 per tonne.
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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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