
Hindalco Industries Ltd has increased its aluminium products price for the second time in a row. With effect from Friday, 21 August 2020, the company’s wire rods price stands at INR 162,350 per tonne, marking an increase of 0.78% or INR 1,250 per tonne from INR 161,100 per tonne on August 20.
The company is now selling its billets at INR 158,350 per tonne, up INR 1,250 per tonne from INR 157,100 per tonne with effect from Friday, 21 August 2020.
Aluminium ingots price has come in at INR 151,250 per tonne, a hike of INR 1,250 per tonne from INR 150,000 per tonne on August 20.
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 declined by 4% so far in 2020 due to slower global demand following the coronavirus outbreak but have come off their recent lows.
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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