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Hindalco takes marginal price cut on aluminium products

Informist, Thursday, Mar 18, 2021

 

By Nikita Periwal

 

MUMBAI – Hindalco Industries Ltd has cut the prices of its aluminium ingots, billets, and wire rods by 1,250 rupees per tn, or less than 1%, with effect from Wednesday. This follows a near 2% price hike taken on Tuesday. 

 

These price changes are in line with the movement in the three-month futures of aluminium on the London Metal Exchange, which is generally used as a global benchmark.

 

The contract has risen more than 11% compared with the end of the December quarter, and Hindalco has raised the prices of its products by around 8% during the same period. With the latest revision, the company's products are at 183,250-194,350 rupees per tn.

 

Shares of Hindalco Industries today closed at 331.80 rupees, up nearly 2%, on the National Stock Exchange.  End

 

Edited by Aditya Sakorkar

 

Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

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