Hindalco reduces its aluminium products price by INR 1,250/t

Hindalco Industries Limited’s aluminium products price has declined after remaining restraint for a month. With effect from Saturday, 19 September 2020, the company’s wire rods price stands at INR 158,100 per tonne, registering a drop of INR 1,250 per tonne from INR 159,350 per tonne on August 22.

The company is now selling its billets at INR 154,100 per tonne as of Saturday, 19 September 2020, down INR 1,250 per tonne from INR 155,350 per tonne on Saturday, 22 August 2020.

Hindalco aluminium ingots price has decreased to stand at INR 147,000 per tonne, a drop of INR 1,250 per tonne from INR 148,250 per tonne on August 22.

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 4% 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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