Hindalco Industries Limited further raised its aluminium products and aluminium ingot prices with effect from Saturday, March 27. The company’s aluminium wire rod price came in at INR 200,850 per tonne as of March 27, up by INR 2,500 per tonne from INR 198,350 per tonne on March 25.
Hindalco’s aluminium billets price also saw a raise of INR 2,500 per tonne from INR 194,350 per tonne on March 25 to INR 196,850 per tonne on March 27. Aluminium ingot price stood at INR 189,750 per tonne compared to INR 187,250 per tonne.
Hindalco generally links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which on Friday, March 26 soared by US$ 52.50 per to stand at US$ 2260.50 per tonne. Currently, on a year-on-year basis, the price is higher by US$ 753 per tonne or 49.95 per cent from US$ 1507.50 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.
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