Hindalco’s aluminium wire rod and billet prices experience a cut of INR2,000/t on November 25

Hindalco Industries Limited has slashed its aluminium products and aluminium ingot prices for two successive days – November 24 and 25. As per the data, on November 25, Hindalco trimmed its aluminium wire rod price by INR 2,000 per tonne from INR 233,850 per tonne to INR 231,850 per tonne.

As per the data, Hindalco’s aluminium billets price closed at INR 234,850 per tonne on November 25 from INR 236,850 per tonne a day before. Today, the price has recorded a deduction of INR 2,000 per tonne.

Aluminium ingot price has also been reduced by INR 2,000 per tonne on November 25 to halt at INR 220,750 per tonne. On November 24, the price had settled at INR 222,750 per tonne, down by INR 2,500 per tonne from INR 225,250 per tonne on November 23.

Hindalco Industries has back-to-back cut its aluminium products and aluminium ingots prices in response to the LME aluminium price. From November 24 to November 25, the LME aluminium benchmark price slumped by US$20 per tonne to clock at US$2,344 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.