Hindalco hikes its aluminium billets and wire rod prices by INR5250/t or 2% with effect from December 14
Hindalco Industries Limited has further increased its aluminium products and aluminium ingot prices, with effect from Tuesday, December 14, after the last hike nearly a week ago on December 8. Hindalco’s aluminium wire rod price has climbed by INR 5,250 per tonne or 2.16 per cent to stand at INR 248,100 per tonne as of December 14. On last Wednesday, December 8, the company’s aluminium wire rod price stood at INR 242,850 per tonne after being raised by INR 2,250 per tonne from the previous day.
Hindalco’s aluminium billets price has also seen an increase of INR 5,250 per tonne from INR 245,850 per tonne on December 8 to INR 251,100 per tonne on December 14. Aluminium ingot price has come in at INR 237,000 per tonne, up by INR 5,250 per tonne as well from INR 231,750 per tonne a week ago.
Hindalco links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which during December 8-13 grew by US$51 per tonne from US$2,626 per tonne to US$2,677 per tonne. On a month-on-month calculation, the price stood essentially unchanged compared to US$2,676 per tonne on November 12.
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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