
Hindalco Industries Ltd raised its aluminium products price after reducing the price of the same product on Friday August 7. With effect from Saturday August 8, the company’s wire rods price came in at INR 161,350 per tonne, an increase of 1.26% or INR 2,000 per tonne from INR 159,350 per tonne.
The company is now selling its billets at INR 157,350 per tonne, marking a rise of INR 2,000 per tonne from INR 155,350 per tonne with effect from Saturday August 8.
{alcircleadd}Hindalco aluminium ingots price now stands at INR 150,250 per tonne, up INR 2,000 per tonne from INR 148,250 per tonne on August 7.
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 3% 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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