Hindalco Industries Ltd cut prices of its aluminium products by more than 1% on Tuesday.
This price cut comes after the company raised prices of its products by nearly 2% last week.
With the latest move, prices of the company's products have dropped about 8% since the end of the previous quarter. The three-month aluminium futures on the London Metal Exchange, to which the company generally links prices, have declined nearly 7% during the same period.
Hindalco's aluminium operations, excluding those of US-based subsidiary Novelis Inc, generally account for nearly half of the company's sales and 70% of its operating profit.
Updated On 20-Jun-2019
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