
Hindalco Industries Limited has increased its aluminium products prices with effect from Thursday, June 18, after two consecutive declines last week. With the latest hike, the company’s aluminium ingot price is now standing at INR 139,500 per tonne, an increase of INR 2,250 per tonne or 1.63 per cent from INR 137,250 per tonne on Saturday, June 13.

The prices of Hindalco’s wire rods and billets have also been grown by INR 1,750 per tonne or 1 per cent from INR 148,350 per tonne and INR 144,350 per tonne on June 13. As of today, June 18, Hindalco's wire rods and billets prices are hovering at INR 150,100 per tonne and INR 146,100 per tonne, respectively.
The Indian aluminium producers generally link prices of its products to the three-month futures of aluminium on the London Metal Exchange. The three-month futures of aluminium declined nearly 11% so far in 2020 due to slower global demand following the coronavirus outbreak. Aluminium prices are expected to remain under pressure due to the Coronavirus pandemic.
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.
Hindalco’s net profit in the financial year 2019-2020 totalled INR 3,767 crore, down by 31 per cent from INR 5,495 crore in the preceding fiscal. The consolidated revenue from operation dropped year-on-year by 9% to INR 1.18 lakh crore as against INR 1.31 lakh crore in the previous financial year.
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