
Hindalco Industries Limited has revised its aluminium products and aluminium ingot prices for the first time in the New Year. With effect from Wednesday, January 4, Hindalco has cut its aluminium products prices by INR 3,000 per tonne or 1.27 per cent, bringing the aluminium wire rod price to INR 234,100 per tonne versus INR 237,100 per tonne on December 30.
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Hindalco’s aluminium billets price has come in at INR 237,100 per tonne, compared to INR 240,100 per tonne last week. Showing no exception, Hindalco’s aluminium ingot price has also shrunk by INR 3,000 per tonne to reach INR 223,000 per tonne versus INR 226,000 per tonne on December 30.
Hindalco has cut its aluminium ingot and aluminium products prices in line with a fall of the LME aluminium benchmark price by US$34 per tonne or 1.43 per cent from US$2,371.50 per tonne on December 29 to US$2,337.50 per tonne on December 29.
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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