Hindalco increases its aluminium wire rod and billets prices by INR1500/t with effect from November 4
Hindalco Industries Limited has increased its aluminium products and aluminium ingot prices after continuous cuts since October 21, 2021. With effect from November 4, Hindalco’s aluminium wire rod price has witnessed a rise of INR 1,500 per tonne to INR 246,850 per tonne. On November 3, the price stood at INR 245,350 per tonne after being reduced by INR 2,500 per tonne.
Hindalco’s aluminium billets selling price is currently standing at INR 246,350 per tonne, which is also down by INR 1,500 per tonne from INR 244,850 per tonne.
The company is selling its aluminium ingot price at INR 235,750 per tonne compared to INR 234,250 per tonne on November 3.
Hindalco Industries Limited links its aluminium ingot and aluminium products prices to the three-month futures of aluminium on the London Metal Exchange, which, however decreased on November 4 by US$61 per tonne to US$2,643 per tonne. On a month-on-month calculation, the price stood down by US$246 per tonne from US$2,889 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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