
Hindalco Industries Ltd has dropped its aluminium products price after hiking the price of the same product by 1% on August 12. With effect from Saturday August 15, the company’s wire rods price stands at INR 159,850 per tonne, marking a decline of 1.08% or INR 1,750 per tonne from INR 161,600 per tonne.

The company is now selling its billets at INR 155,850 per tonne, down INR 1,750 per tonne from INR 157,600 per tonne with effect from Wednesday August 12.
Aluminium ingots price has reduced to stand at INR 148,750 per tonne, a drop of INR 1,750 per tonne from INR 150,500 per tonne on August 12.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on London Metal Exchange. The three-month futures of aluminium declined by 3% so far in 2020 due to slower global demand following the coronavirus outbreak but have come off their recent lows.
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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