Hindalco hikes aluminium ingots price by nearly 1.5% with effect from February 13
Hindalco Industries Ltd has raised the prices of aluminium ingots, billets, and wire rods by nearly 1.5%. With effect from February 13, the aluminium ingot price now stands at INR 139,250 per tonne, an increase of 1.46% from INR 137,250 per tonne on February 5.
Hindalco has increased the prices of wire rods and billets by 1.35% and 1.39% from February 5. The prices for Hindalco products now stand at INR 149,850 per tonne and INR 145,850 per tonne, from INR 147,850 per tonne and INR 143,850 per tonne.
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% so far in 2020, with a 6% fall in prices since late January alone.
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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