Hindalco hikes its aluminium billets and wire rod prices by INR8250/t or 3.5% with effect from November 12
Hindalco Industries Limited has increased its aluminium products and aluminium ingot prices on Friday, November 12, following a cut on the previous day. The company’s aluminium billets price has come in at INR 241,100 per tonne on November 12, up by INR 8,250 per tonne or 3.54 per cent from the previous day. On Thursday, November 11, the price stood at INR 232,850 per tonne after being reduced by INR 1,500 per tonne.
Hindalco’s aluminium wire rod price is standing at INR 241,600 per tonne on November 12, up by INR 8,250 per tonne from INR 233,350 per tonne on November 11.
The company’s aluminium ingot price has also witnessed an increase of INR 8,250 per tonne from INR 222,250 per tonne to INR 230,500 per tonne.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month future of aluminium on the London Metal Exchange, which on Thursday, November 11, surged by US$91.50 per tonne from US$2,554 per tonne to US$2,645.50 per tonne. However, on a month-on-month calculation, the price stood down by US$374.50 per tonne from US$3,020 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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