Hindalco’s aluminium wire rod & billets prices further dwindle by INR3000/t on April 6
Hindalco Industries Limited has continued to trim its aluminium products and aluminium ingot prices as the LME aluminium ingot price keeps pursuing a downtrend. With effect from April 6, Hindalco has reduced its aluminium wire rod price by INR 3,000 per tonne to INR 304,850 per tonne. On April 5, the price stood at INR 307,850 per tonne, seeing a cut of INR 6,250 per tonne from the previous day.
Hindalco's aluminium billets price has also been reduced by INR 3,000 per tonne from INR 310,850 per tonne to INR 307,850 per tonne. Aluminium ingot price has come in at INR 293,750 per tonne, down by 1.01 per cent from INR 296,750 per tonne.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which further decreased by US$29 per tonne on April 5 to US$3,415 per tonne. On a month-on-month basis, the price stood US$436 per tonne lower than US$3,581 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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