Hindalco Industries cuts its aluminium selling prices in response to LME aluminium price fall
Hindalco Industries Limited has reduced its aluminium ingot and aluminium products prices on Thursday, March 15, in line with the LME aluminium price drop. Like other Indian aluminium companies, Hindalco links its aluminium prices to the three-month futures of aluminium on the London Metal Exchange.
On Thursday, March 14, the LME aluminium benchmark price decreased by US$19 per tonne, and in response, Hindalco Industries Limited cut its aluminium prices by INR 1,750 per tonne or 0.8 per cent on March 15.
On March 14, Hindalco increased its aluminium prices by INR 1,750 per tonne in tandem with the LME aluminium benchmark price rise by US$10.50 per tonne on March 13. This indicates that Hindalco's aluminium prices lost what they gained the previous day.
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