Hindalco reduces aluminium ingots price by 1.26% with effect from February 18

Hindalco Industries Ltd has reduced the prices of aluminium ingots, billets, and wire rods by nearly 1.2% with effect from Tuesday, 18 February 2020. The aluminium ingot price now stands at INR 137,500 per tonne, a decrease of 1.26% from INR 139,250 per tonne on February 13.

The prices of wire rods and billets stand at INR 148,100 per tonne and INR 144,100 per tonne, down 1.17% and 1.2% from INR 149,850 per tonne and INR 145,850 per tonne on February 13.

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 are down more than 5% in the current quarter as compared to the end of the previous quarter.

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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