Hindalco reduced prices for its primary metal products by Rs1,750($24.65/mt), after LME spot prices dropped by $20/mt on Wednesday in a notice published on Jan 9.
The company priced P1020 at Rs146,000/mt, down by Rs1,750/mt from the last price revision on Jan 7. The price for EC wire rods dropped by Rs152,100-152,850/mt Thursday, from Rs153,850-154,600/mt on Wednesday. The prices for billets decreased to Rs152,100/mt from Rs153,850/mt.
Earlier, Vedanta dropped prices for its products by Rs1,500/mt. Hindalco on Jan 7, increased prices of aluminium by Rs3,500/mt, following a rise in LME spot prices by $33 to $1791/mt, which were revised on Jan 9.